BlackRock Inc. Invests $341.42 Million in Brighthouse Financial, Inc. $BHF

BlackRock Inc. purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,393,709 shares of the company’s stock, valued at approximately $341,422,000. BlackRock Inc. owned 0.09% of Brighthouse Financial as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Quantinno Capital Management LP boosted its position in shares of Brighthouse Financial by 34.7% during the 1st quarter. Quantinno Capital Management LP now owns 186,971 shares of the company’s stock worth $11,196,000 after acquiring an additional 48,174 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Brighthouse Financial by 38.8% in the first quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company’s stock valued at $3,679,000 after buying an additional 17,164 shares during the last quarter. Amundi raised its holdings in shares of Brighthouse Financial by 3,855.0% in the first quarter. Amundi now owns 123,276 shares of the company’s stock valued at $7,382,000 after buying an additional 120,159 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Brighthouse Financial during the first quarter worth about $4,036,000. Finally, Calamos Advisors LLC acquired a new stake in Brighthouse Financial during the 1st quarter worth approximately $23,459,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Performance

BHF stock opened at $51.87 on Wednesday. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $66.80. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 4.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s fifty day moving average is $61.82 and its two-hundred day moving average is $61.74.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing the consensus estimate of $4.86 by ($0.41). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $3.43 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. On average, research analysts predict that Brighthouse Financial, Inc. will post 18.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BHF. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brighthouse Financial in a report on Friday, August 7th. Eight research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $60.50.

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.