New York Life Investment Management LLC Makes New $2.98 Million Investment in Brighthouse Financial, Inc. $BHF

New York Life Investment Management LLC bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the fourth quarter, Holdings Channel reports. The fund bought 46,025 shares of the company’s stock, valued at approximately $2,982,000.

A number of other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after acquiring an additional 226 shares during the period. Clearstead Advisors LLC raised its stake in shares of Brighthouse Financial by 540.4% in the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock valued at $34,000 after acquiring an additional 535 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Brighthouse Financial by 225.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares during the period. Danske Bank A S purchased a new stake in shares of Brighthouse Financial in the 3rd quarter valued at approximately $37,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Brighthouse Financial by 835.2% in the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after acquiring an additional 735 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BHF. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 target price on shares of Brighthouse Financial in a research note on Thursday, March 26th. Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research downgraded shares of Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Finally, Argus raised shares of Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Seven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $60.86.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock opened at $62.54 on Monday. The company has a market cap of $3.59 billion, a P/E ratio of -20.99 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 0.91. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.33. The firm has a fifty day moving average of $60.91 and a two-hundred day moving average of $62.50.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, May 7th. The company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The business’s revenue for the quarter was down 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.17 EPS. On average, analysts forecast that Brighthouse Financial, Inc. will post 19.52 earnings per share for the current year.

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.