Ionic Capital Management LLC Buys New Position in Brighthouse Financial, Inc. $BHF

Ionic Capital Management LLC purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,000 shares of the company’s stock, valued at approximately $584,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BHF. Four Tree Island Advisory LLC grew its stake in shares of Brighthouse Financial by 1.8% in the 2nd quarter. Four Tree Island Advisory LLC now owns 12,262 shares of the company’s stock worth $659,000 after acquiring an additional 214 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Brighthouse Financial by 66.5% during the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after purchasing an additional 226 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Brighthouse Financial by 1.6% during the third quarter. Harbor Capital Advisors Inc. now owns 23,539 shares of the company’s stock worth $1,249,000 after purchasing an additional 375 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Brighthouse Financial by 0.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 53,428 shares of the company’s stock worth $2,873,000 after purchasing an additional 460 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Brighthouse Financial by 225.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock worth $35,000 after purchasing an additional 460 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BHF has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Brighthouse Financial in a research report on Monday, December 29th. Barclays downgraded Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price target for the company. in a research report on Thursday, January 8th. Finally, Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Brighthouse Financial currently has a consensus rating of “Reduce” and a consensus target price of $63.67.

Brighthouse Financial Trading Down 0.2%

Shares of BHF stock opened at $60.23 on Monday. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 10.38 and a beta of 0.96. The company’s fifty day simple moving average is $63.04 and its two-hundred day simple moving average is $58.83. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 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.

Brighthouse Financial Company 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.