AlphaCrest Capital Management LLC Boosts Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

AlphaCrest Capital Management LLC grew its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHFGet Rating) by 282.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,491 shares of the company’s stock after purchasing an additional 33,591 shares during the period. AlphaCrest Capital Management LLC owned approximately 0.06% of Brighthouse Financial worth $1,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Brighthouse Financial by 12.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,277 shares of the company’s stock worth $273,000 after purchasing an additional 564 shares during the period. Victory Capital Management Inc. grew its position in shares of Brighthouse Financial by 0.3% in the 1st quarter. Victory Capital Management Inc. now owns 376,948 shares of the company’s stock worth $19,465,000 after buying an additional 1,286 shares during the period. Chemistry Wealth Management LLC bought a new position in shares of Brighthouse Financial in the 1st quarter worth about $861,000. Independent Advisor Alliance lifted its position in Brighthouse Financial by 83.8% during the 1st quarter. Independent Advisor Alliance now owns 19,487 shares of the company’s stock valued at $1,007,000 after acquiring an additional 8,885 shares during the period. Finally, IndexIQ Advisors LLC bought a new stake in Brighthouse Financial during the first quarter worth about $395,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BHF. TheStreet lowered shares of Brighthouse Financial from a “b” rating to a “c+” rating in a report on Monday, November 7th. Wells Fargo & Company cut their target price on Brighthouse Financial from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 12th. Morgan Stanley lifted their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 17th. Barclays increased their price objective on shares of Brighthouse Financial from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, October 14th. Finally, Evercore ISI lifted their target price on shares of Brighthouse Financial to $55.00 in a report on Tuesday, November 15th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.22.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $54.68 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 4.78 and a beta of 1.37. The business has a 50-day simple moving average of $50.70 and a two-hundred day simple moving average of $47.19. Brighthouse Financial, Inc. has a fifty-two week low of $38.38 and a fifty-two week high of $62.33.

Brighthouse Financial (NASDAQ:BHFGet Rating) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.82). The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Brighthouse Financial had a net margin of 10.06% and a return on equity of 9.50%. On average, analysts expect that Brighthouse Financial, Inc. will post 11.43 earnings per share for the current year.

Brighthouse Financial Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Brighthouse Financial (NASDAQ:BHF)

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