Woodline Partners LP Purchases New Holdings in Brighthouse Financial, Inc. $BHF

Key Points

• Woodline Partners LP has invested approximately $12.54 million in Brighthouse Financial, acquiring 216,173 shares of the company, which represents about 0.37% of its total shares.
• Brighthouse Financial's stock has recently faced multiple downgrades, with analysts lowering their target prices and overall ratings to "Hold," reflecting cautious sentiment towards its performance.
• In its latest earnings report, Brighthouse Financial missed analyst expectations, posting $3.43 EPS compared to the anticipated $4.70, alongside a 2.8% revenue decline year-over-year.

Woodline Partners LP acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 216,173 shares of the company's stock, valued at approximately $12,536,000. Woodline Partners LP owned 0.37% of Brighthouse Financial at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in Brighthouse Financial by 9.3% during the 1st quarter. American Century Companies Inc. now owns 1,838,020 shares of the company's stock worth $106,587,000 after acquiring an additional 155,944 shares during the period. Royal Bank of Canada raised its stake in shares of Brighthouse Financial by 41.0% during the first quarter. Royal Bank of Canada now owns 985,215 shares of the company's stock valued at $57,134,000 after purchasing an additional 286,607 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Brighthouse Financial by 3.2% in the first quarter. Victory Capital Management Inc. now owns 912,242 shares of the company's stock worth $52,901,000 after purchasing an additional 28,080 shares during the period. Northern Trust Corp lifted its holdings in Brighthouse Financial by 6.1% in the first quarter. Northern Trust Corp now owns 720,243 shares of the company's stock worth $41,767,000 after purchasing an additional 41,323 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Brighthouse Financial by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 386,664 shares of the company's stock valued at $22,423,000 after buying an additional 23,990 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Price Performance

Shares of BHF traded down $1.78 during trading hours on Monday, hitting $47.21. 889,899 shares of the company were exchanged, compared to its average volume of 851,315. The company has a market capitalization of $2.70 billion, a PE ratio of 5.11 and a beta of 0.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a fifty day simple moving average of $47.73 and a 200-day simple moving average of $53.13. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $64.12.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.70 by ($1.27). Brighthouse Financial had a return on equity of 21.06% and a net margin of 10.24%.The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the firm earned $5.57 earnings per share. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on BHF shares. JPMorgan Chase & Co. boosted their price target on shares of Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Wall Street Zen downgraded Brighthouse Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Morgan Stanley lowered their price target 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 cut their price objective on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $59.67.

About Brighthouse Financial

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.