Nuveen LLC Takes Position in Brighthouse Financial, Inc. $BHF

Key Points

• Nuveen LLC acquired a new stake in Brighthouse Financial, purchasing 113,495 shares valued at approximately $6.58 million, representing 0.20% ownership.
• Several hedge funds, including AQR Capital Management and GAMMA Investing LLC, significantly increased their holdings in Brighthouse Financial, collectively enhancing institutional ownership to over 81% of the company.
• Brighthouse Financial reported a Q2 earnings miss with EPS of $3.43, falling short of the consensus estimate of $4.70, alongside a revenue drop of 2.8% year-over-year.

Nuveen LLC purchased a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 113,495 shares of the company's stock, valued at approximately $6,582,000. Nuveen LLC owned 0.20% of Brighthouse Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BHF. AQR Capital Management LLC lifted its holdings in shares of Brighthouse Financial by 156.9% during the 4th quarter. AQR Capital Management LLC now owns 656,464 shares of the company's stock valued at $31,537,000 after buying an additional 400,924 shares during the period. Algebris UK Ltd purchased a new stake in shares of Brighthouse Financial in the 1st quarter worth $11,761,000. GAMMA Investing LLC increased its stake in shares of Brighthouse Financial by 6,338.1% in the 1st quarter. GAMMA Investing LLC now owns 118,010 shares of the company's stock worth $6,843,000 after purchasing an additional 116,177 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Brighthouse Financial by 1,764.2% in the 1st quarter. SG Americas Securities LLC now owns 121,229 shares of the company's stock worth $7,030,000 after purchasing an additional 114,726 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Brighthouse Financial by 220.5% in the 4th quarter. Barclays PLC now owns 107,153 shares of the company's stock worth $5,148,000 after purchasing an additional 73,724 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BHF shares. Morgan Stanley reduced their price objective on Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating for the company in a research note on Monday, July 14th. Piper Sandler reduced their price objective on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. JPMorgan Chase & Co. upped their price objective on Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Barclays reduced their price objective on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Wells Fargo & Company increased their price target on Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $59.67.

Brighthouse Financial Trading Up 1.4%

Shares of BHF stock opened at $47.09 on Monday. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2.69 billion, a PE ratio of 5.10 and a beta of 0.88. The stock has a fifty day simple moving average of $50.42 and a two-hundred day simple moving average of $54.55.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.70 by ($1.27). Brighthouse Financial had a return on equity of 21.06% and a net margin of 10.24%.The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter in the previous year, the company posted $5.57 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts predict that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Insider Buying and Selling at Brighthouse Financial

In other news, EVP Vonda Huss sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $59.51, for a total transaction of $178,530.00. Following the completion of the transaction, the executive vice president owned 18,441 shares in the company, valued at $1,097,423.91. This trade represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Brighthouse Financial Profile

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.

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