Wolverine Asset Management LLC Acquires Shares of 44,699 Brighthouse Financial, Inc. $BHF

Key Points

• Wolverine Asset Management acquired a new stake of 44,699 shares of Brighthouse Financial (NASDAQ: BHF) in the fourth quarter, valued at about $2.9 million and representing 0.08% ownership at quarter-end.
• Several large funds also increased or initiated positions—Millennium Management added 160,272 shares (now 262,890), UBS owns 209,140 shares, and institutional investors collectively hold 81.24% of the company.
• Analysts have a consensus rating of "Reduce" with an average price target of $60.86; BHF is trading near $62.69, has a market cap of $3.6 billion and a P/E of 10.81.

Wolverine Asset Management LLC acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 44,699 shares of the company's stock, valued at approximately $2,896,000. Wolverine Asset Management LLC owned 0.08% of Brighthouse Financial at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BHF. Millennium Management LLC increased its position in shares of Brighthouse Financial by 156.2% in the first quarter. Millennium Management LLC now owns 262,890 shares of the company's stock valued at $15,245,000 after acquiring an additional 160,272 shares during the period. Jones Financial Companies Lllp increased its position in shares of Brighthouse Financial by 835.2% in the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock valued at $48,000 after acquiring an additional 735 shares during the period. United Services Automobile Association purchased a new position in shares of Brighthouse Financial in the first quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Brighthouse Financial by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company's stock valued at $12,128,000 after acquiring an additional 13,245 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Brighthouse Financial by 12.5% during the second quarter. Prudential Financial Inc. now owns 6,509 shares of the company's stock valued at $350,000 after buying an additional 725 shares during the period. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a "hold" rating and set a $67.00 price target on shares of Brighthouse Financial in a research report on Thursday, March 26th. Zacks Research cut shares of Brighthouse Financial from a "hold" rating to a "strong sell" rating in a research report on Monday, March 30th. Barclays cut shares of Brighthouse Financial from an "overweight" rating to an "equal weight" rating and set a $65.00 price target on the stock. in a research report on Thursday, January 8th. Finally, Argus upgraded shares of Brighthouse Financial to a "hold" rating in a research report on Thursday, March 26th. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $60.86.

Brighthouse Financial Trading Up 0.1%

NASDAQ:BHF opened at $62.69 on Tuesday. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.95. The company's 50-day simple moving average is $60.79 and its 200 day simple moving average is $61.55. The firm has a market capitalization of $3.60 billion, a P/E ratio of 10.81 and a beta of 0.87.

Brighthouse Financial Profile

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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