M&T Bank Corp Purchases Shares of 23,903 Brighthouse Financial, Inc. $BHF

Key Points

• M&T Bank Corp bought a new stake of 23,903 shares of Brighthouse Financial (NASDAQ: BHF) in Q4, valued at about $1.55 million.
• Institutional ownership is high at 81.24%, with several other institutions (e.g., Universal Beteiligungs, Evergreen Capital, Zurcher Kantonalbank) adding to or trimming positions during the quarter.
• Analyst sentiment is cautious — MarketBeat shows an average rating of "Reduce" with a consensus price target of $60.86, and recent moves include Barclays downgrading to "equal weight" and Zacks cutting to "strong sell".

M&T Bank Corp purchased a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,903 shares of the company's stock, valued at approximately $1,549,000.

Several other institutional investors have also added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Brighthouse Financial by 33.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 49,441 shares of the company's stock valued at $3,203,000 after buying an additional 12,486 shares during the period. Evergreen Capital Management LLC purchased a new stake in Brighthouse Financial during the fourth quarter valued at about $948,000. Waterfront Wealth Inc. boosted its position in Brighthouse Financial by 0.6% during the fourth quarter. Waterfront Wealth Inc. now owns 35,055 shares of the company's stock valued at $2,255,000 after buying an additional 192 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Brighthouse Financial by 41.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,737 shares of the company's stock valued at $1,214,000 after buying an additional 5,523 shares during the period. Finally, Signaturefd LLC boosted its position in Brighthouse Financial by 25.2% during the fourth quarter. Signaturefd LLC now owns 3,350 shares of the company's stock valued at $217,000 after buying an additional 675 shares during the period. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Argus upgraded shares of Brighthouse Financial to a "hold" rating in a research report on Thursday, March 26th. Barclays lowered shares of Brighthouse Financial from an "overweight" rating to an "equal weight" rating and set a $65.00 target price for the company. in a report on Thursday, January 8th. Keefe, Bruyette & Woods reiterated a "hold" rating and set a $67.00 target price on shares of Brighthouse Financial in a report on Thursday, March 26th. Finally, Zacks Research lowered shares of Brighthouse Financial from a "hold" rating to a "strong sell" rating in a report on Monday, March 30th. Eight investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $60.86.

Brighthouse Financial Stock Performance

Brighthouse Financial stock opened at $61.93 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $60.82 and a 200-day moving average of $61.37. The firm has a market cap of $3.56 billion, a P/E ratio of 10.68 and a beta of 0.92. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.33.

Brighthouse Financial Company 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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