Commerce Bank Invests $994,000 in Brighthouse Financial, Inc. $BHF

Commerce Bank acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,700 shares of the company’s stock, valued at approximately $994,000.

A number of other hedge funds also recently made changes to their positions in BHF. Northwestern Mutual Wealth Management Co. bought a new position in Brighthouse Financial in the second quarter valued at $27,000. NewEdge Advisors LLC raised its position in Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after purchasing an additional 354 shares in the last quarter. Bessemer Group Inc. lifted its stake in Brighthouse Financial by 390.3% during the first quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Brighthouse Financial by 66.5% during the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after purchasing an additional 226 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of Brighthouse Financial in the 3rd quarter worth about $37,000. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Trading Up 1.2%

Shares of BHF stock opened at $52.49 on Thursday. The business has a 50-day moving average of $61.60 and a 200 day moving average of $61.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. 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 $3.02 billion, a PE ratio of 4.19 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm earned $3.43 earnings per share. Brighthouse Financial’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented 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 upgraded shares of Brighthouse Financial from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus 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.