Polar Asset Management Partners Inc. Purchases New Shares in Brighthouse Financial, Inc. $BHF

Key Points

• Polar Asset Management acquired 89,289 Brighthouse Financial shares in the second quarter, valued at approximately $5.65 million and representing a 0.16% stake. Institutional investors collectively own 81.24% of the company.
• Brighthouse Financial reported quarterly earnings of $4.45 per share, below the $4.86 analyst consensus, while revenue of $1.62 billion also fell short of estimates and declined 2% year over year.
• The stock opened at $51.87, below the analyst consensus target of $60.50. Analyst sentiment remains cautious, with eight Hold ratings, two Sell ratings, and an overall “Reduce” consensus.

Polar Asset Management Partners Inc. purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 89,289 shares of the company's stock, valued at approximately $5,652,000. Polar Asset Management Partners Inc. owned 0.16% of Brighthouse Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Brighthouse Financial during the second quarter worth approximately $27,000. NewEdge Advisors LLC raised its position in shares of Brighthouse Financial by 442.5% in the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company's stock valued at $28,000 after buying an additional 354 shares in the last quarter. Bessemer Group Inc. boosted its stake 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 period. Smartleaf Asset Management LLC boosted its stake 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 period. Finally, Danske Bank A S bought a new stake in shares of Brighthouse Financial in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 81.24% of the company's stock.

Brighthouse Financial Stock Down 0.1%

Shares of BHF opened at $51.87 on Wednesday. The firm has a 50 day simple moving average of $61.82 and a two-hundred day simple moving average of $61.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.80. The company has a market cap of $2.98 billion, a P/E ratio of 4.14 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41). The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $2.18 billion. Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.Brighthouse Financial's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $3.43 EPS. Research analysts forecast that Brighthouse Financial, Inc. will post 18.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Brighthouse Financial in a research note on Friday, August 7th. Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised Brighthouse Financial to a "hold" rating in a report on Sunday, July 12th. Eight research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $60.50.

About Brighthouse Financial

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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