Redwood Investment Management LLC Buys Shares of 22,514 Brighthouse Financial, Inc. $BHF

Key Points

• Redwood Investment Management LLC has acquired a new stake in Brighthouse Financial, purchasing 22,514 shares valued at approximately $1.3 million.
• Brighthouse Financial reported an EPS of $3.43 for the last quarter, missing analysts' estimates by $1.27, with a revenue decrease of 2.8% compared to the same quarter last year.
• The stock currently has an average rating of "Hold" from analysts, with target prices ranging from $42.00 to $63.00.

Redwood Investment Management LLC acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,514 shares of the company's stock, valued at approximately $1,306,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Brighthouse Financial by 188.0% during the 1st quarter. Versant Capital Management Inc now owns 622 shares of the company's stock worth $36,000 after buying an additional 406 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Brighthouse Financial by 42.0% during the 1st quarter. Brooklyn Investment Group now owns 764 shares of the company's stock worth $44,000 after buying an additional 226 shares in the last quarter. UMB Bank n.a. grew its position in shares of Brighthouse Financial by 101.7% during the 1st quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock worth $70,000 after buying an additional 605 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of Brighthouse Financial during the 4th quarter worth $94,000. Finally, GAMMA Investing LLC boosted its position in Brighthouse Financial by 11.0% during the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock valued at $118,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 81.24% of the company's stock.

Insider Activity

In other news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $59.51, for a total value of $178,530.00. Following the sale, the executive vice president directly owned 18,441 shares of the company's stock, valued at $1,097,423.91. The trade was a 13.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. 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 report on Monday, August 11th. Wells Fargo & Company raised their price objective on Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Morgan Stanley dropped their price objective on Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating on the stock in a research report on Monday, July 14th. Finally, Barclays decreased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $59.67.

Brighthouse Financial Stock Performance

Shares of NASDAQ:BHF traded up $0.54 during trading on Friday, hitting $47.26. The stock had a trading volume of 472,618 shares, compared to its average volume of 656,432. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.12. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 5.11 and a beta of 0.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a 50-day simple moving average of $49.25 and a two-hundred day simple moving average of $54.16.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $4.70 by ($1.27). Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The company 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 business posted $5.57 earnings per share. The firm's revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

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.