QRG Capital Management Inc. Makes New Investment in Brighthouse Financial, Inc. $BHF

Key Points

• QRG Capital Management Inc. recently invested approximately $782,000 in 14,545 shares of Brighthouse Financial, Inc. as part of its second-quarter activities.
• Brighthouse Financial's stock has experienced volatility, with a 1-year low of $42.07 and a high of $64.12, and currently trades at around $48.31.
• The company's quarterly earnings report showed earnings per share of $3.43, significantly below analysts' expectations of $4.70, along with a revenue decline of 2.8% year-over-year.

QRG Capital Management Inc. purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,545 shares of the company's stock, valued at approximately $782,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. bought a new stake in shares of Brighthouse Financial in the 2nd quarter worth $243,000. Kendall Capital Management raised its stake in shares of Brighthouse Financial by 8.5% in the 2nd quarter. Kendall Capital Management now owns 12,505 shares of the company's stock worth $672,000 after buying an additional 980 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Brighthouse Financial in the 2nd quarter worth $406,000. GAMMA Investing LLC raised its stake in shares of Brighthouse Financial by 18.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,415 shares of the company's stock worth $130,000 after buying an additional 380 shares in the last quarter. Finally, Kawa Capital Management Inc bought a new stake in shares of Brighthouse Financial in the 2nd quarter worth $8,066,000. Institutional investors and hedge funds own 81.24% of the company's stock.

Brighthouse Financial Stock Performance

Shares of BHF stock opened at $48.31 on Friday. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $64.12. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 5.23 and a beta of 0.86. The stock's fifty day simple moving average is $48.37 and its 200-day simple moving average is $52.58.

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 for the quarter, missing analysts' consensus estimates of $4.70 by ($1.27). Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter in the prior year, the firm posted $5.57 EPS. The business's quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Evercore ISI dropped their price objective on Brighthouse Financial from $65.00 to $55.00 and set an "in-line" rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods dropped their price objective on Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, August 11th. Barclays dropped their price objective on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brighthouse Financial in a research report on Saturday, September 27th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $53.00 target price on shares of Brighthouse Financial in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $59.30.

Brighthouse Financial Company 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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