Mint Tower Capital Management B.V. Invests $1.58 Million in Brighthouse Financial, Inc. $BHF

Key Points

• Mint Tower Capital Management acquired 25,000 Brighthouse Financial shares worth approximately $1.58 million during the second quarter. Institutional investors collectively own 81.24% of the company.
• Analyst sentiment has improved modestly, with several firms upgrading the stock to “hold.” However, the consensus rating remains “Reduce,” with a target price of $60.50.
• Brighthouse Financial recently reported quarterly EPS of $4.45, below the $4.86 consensus estimate, while revenue of $1.62 billion also missed forecasts and declined 2% year over year. Shares opened at $53.04, down 2.1%.

Mint Tower Capital Management B.V. acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,000 shares of the company's stock, valued at approximately $1,583,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Brighthouse Financial in the 2nd quarter valued at about $27,000. NewEdge Advisors LLC grew its holdings in shares of Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company's stock worth $28,000 after buying an additional 354 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Brighthouse Financial by 390.3% in the first quarter. Bessemer Group Inc. now owns 505 shares of the company's stock valued at $30,000 after buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company's stock valued at $31,000 after buying an additional 226 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of Brighthouse Financial during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen raised shares of Brighthouse Financial to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings raised Brighthouse Financial from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Tuesday. Finally, Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $60.50.

Brighthouse Financial Trading Down 2.1%

Shares of BHF stock opened at $53.04 on Friday. The firm has a market cap of $3.05 billion, a P/E ratio of 4.23 and a beta of 0.87. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The firm's 50-day simple moving average is $61.21 and its 200-day simple moving average is $61.54.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.86 by ($0.41). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business posted $3.43 earnings per share. Brighthouse Financial's revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Brighthouse Financial, Inc. will post 18.91 EPS for the current year.

Brighthouse Financial Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company's core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.

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