Tidal Investments LLC Reduces Stock Position in Brighthouse Financial, Inc. $BHF

Key Points

• Tidal Investments cut its Brighthouse Financial position by 53% in the second quarter, selling 66,077 shares and retaining 58,688 shares worth approximately $3.7 million. Institutional investors collectively own 81.24% of BHF.
• Analyst sentiment remains cautious: nine analysts rate the stock “Hold” and one rates it “Sell,” giving it an average “Reduce” rating and a $60.50 price target.
• Brighthouse Financial reported quarterly EPS of $4.45, below the $4.86 consensus estimate, while revenue of $1.62 billion also missed forecasts and declined 2% year over year.

Tidal Investments LLC cut its position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 53.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,688 shares of the company's stock after selling 66,077 shares during the period. Tidal Investments LLC owned approximately 0.10% of Brighthouse Financial worth $3,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BHF. Northwestern Mutual Wealth Management Co. purchased a new position in Brighthouse Financial during the 2nd quarter worth approximately $27,000. Bessemer Group Inc. increased 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 worth $30,000 after acquiring an additional 402 shares during the period. Allworth Financial LP purchased a new position in shares of Brighthouse Financial during the second quarter worth $49,000. Global Retirement Partners LLC acquired a new position in Brighthouse Financial during the second quarter valued at $55,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in Brighthouse Financial during the fourth quarter valued at $74,000. Institutional investors and hedge funds own 81.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings downgraded Brighthouse Financial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised Brighthouse Financial to a "hold" rating in a report on Sunday, July 12th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Brighthouse Financial currently has an average rating of "Reduce" and an average target price of $60.50.

Brighthouse Financial Trading Down 0.2%

Shares of BHF stock opened at $50.00 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 3.99, a PEG ratio of 0.66 and a beta of 0.84. The stock has a 50 day simple moving average of $58.73 and a 200-day simple moving average of $60.64. Brighthouse Financial, Inc. has a 1-year low of $44.51 and a 1-year high of $66.80.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41). The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $2.18 billion. Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. Brighthouse Financial's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.43 EPS. On average, equities research analysts expect that Brighthouse Financial, Inc. will post 18.91 EPS for the current fiscal year.

About Brighthouse Financial

Brighthouse Financial, Inc is a U.S.-based insurance company focused on helping individuals achieve financial security through annuity and life insurance products. The company serves retail customers, as well as institutions and distribution partners, through a network that includes independent agents, banks, broker-dealers and other financial professionals.

Brighthouse Financial offers fixed, indexed and variable annuities designed to provide retirement income, tax-deferred growth and death-benefit features.

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