XTX Topco Ltd Takes Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Key Points

• XTX Topco Ltd has acquired a new position in Brighthouse Financial, Inc., purchasing 18,222 shares valued at approximately $1.06 million.
• Several hedge funds, including UBS Asset Management and GAMMA Investing LLC, have also increased their holdings in Brighthouse Financial, indicating strong institutional interest.
• Brighthouse Financial's stock has experienced a 3.5% decline, and the company reported earnings of $4.17 per share, missing analysts' consensus estimate by $0.55.

XTX Topco Ltd purchased a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,222 shares of the company's stock, valued at approximately $1,057,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BHF. Canada Pension Plan Investment Board increased its position in shares of Brighthouse Financial by 187.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company's stock worth $87,585,000 after purchasing an additional 1,188,685 shares during the last quarter. Victory Capital Management Inc. raised its stake in Brighthouse Financial by 3.2% in the first quarter. Victory Capital Management Inc. now owns 912,242 shares of the company's stock valued at $52,901,000 after buying an additional 28,080 shares during the period. Norges Bank bought a new stake in Brighthouse Financial in the fourth quarter valued at approximately $37,131,000. Jacobs Levy Equity Management Inc. raised its stake in Brighthouse Financial by 3.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 732,689 shares of the company's stock valued at $35,198,000 after buying an additional 24,662 shares during the period. Finally, Northern Trust Corp raised its stake in Brighthouse Financial by 4.1% in the fourth quarter. Northern Trust Corp now owns 678,920 shares of the company's stock valued at $32,615,000 after buying an additional 26,813 shares during the period. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock traded down $1.47 on Thursday, reaching $46.02. 550,577 shares of the stock were exchanged, compared to its average volume of 856,601. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $64.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average price of $53.38 and a two-hundred day moving average price of $55.41. The firm has a market capitalization of $2.64 billion, a PE ratio of 5.51 and a beta of 0.88.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $4.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.55). Brighthouse Financial had a net margin of 8.71% and a return on equity of 25.60%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.29 billion. During the same period in the previous year, the company posted $4.25 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Insider Activity at Brighthouse Financial

In related news, EVP Vonda Huss sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total value of $178,530.00. Following the completion of the sale, the executive vice president owned 18,441 shares in the company, valued at approximately $1,097,423.91. This represents a 13.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on Brighthouse Financial from $56.00 to $59.00 and gave the company a "market perform" rating in a research report on Tuesday, May 13th. Piper Sandler lowered their price objective on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. 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, Wall Street Zen cut Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.30.

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.