Pearl River Capital LLC acquired a new stake in shares of Brighthouse Financial Inc (NASDAQ:BHF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,811 shares of the company’s stock, valued at approximately $579,000.
A number of other hedge funds also recently modified their holdings of BHF. Jaffetilchin Investment Partners LLC acquired a new stake in Brighthouse Financial in the second quarter worth about $36,000. Canada Pension Plan Investment Board raised its holdings in shares of Brighthouse Financial by 25,120.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,522 shares of the company’s stock worth $60,000 after buying an additional 2,512 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Brighthouse Financial by 540.0% during the first quarter. Altshuler Shaham Ltd now owns 3,200 shares of the company’s stock worth $77,000 after buying an additional 2,700 shares during the period. Signaturefd LLC grew its holdings in shares of Brighthouse Financial by 64.9% during the second quarter. Signaturefd LLC now owns 2,974 shares of the company’s stock valued at $83,000 after buying an additional 1,170 shares during the last quarter. Finally, Wallington Asset Management LLC purchased a new stake in shares of Brighthouse Financial during the second quarter valued at $202,000. 86.45% of the stock is currently owned by institutional investors.
A number of brokerages have commented on BHF. Morgan Stanley lifted their price target on Brighthouse Financial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on Brighthouse Financial from $24.00 to $33.00 in a report on Wednesday, May 13th. Credit Suisse Group reiterated a “hold” rating and issued a $36.00 target price on shares of Brighthouse Financial in a research report on Friday, August 7th. Goldman Sachs Group lowered shares of Brighthouse Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $38.00 to $37.00 in a research report on Thursday, June 18th. Finally, Zacks Investment Research downgraded shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a report on Friday, June 19th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.
NASDAQ BHF traded down $0.52 during mid-day trading on Thursday, reaching $29.33. 12,426 shares of the stock were exchanged, compared to its average volume of 672,713. The company has a market capitalization of $2.80 billion, a P/E ratio of 1.34 and a beta of 1.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. The business’s 50 day moving average is $28.85 and its 200-day moving average is $29.82. Brighthouse Financial Inc has a 1 year low of $12.05 and a 1 year high of $48.25.
Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Thursday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($1.20). Brighthouse Financial had a return on equity of 4.55% and a net margin of 33.37%. During the same quarter in the previous year, the business earned $2.21 EPS. Equities analysts predict that Brighthouse Financial Inc will post 7.51 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 offers 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.
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