Polar Asset Management Partners Inc. Acquires New Holdings in Brighthouse Financial, Inc. $BHF

Polar Asset Management Partners Inc. bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 89,289 shares of the company’s stock, valued at approximately $5,652,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP raised its position in 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 purchasing an additional 48,174 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Brighthouse Financial by 38.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company’s stock worth $3,679,000 after buying an additional 17,164 shares during the period. Amundi grew its position in shares of Brighthouse Financial by 3,855.0% in the 1st 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 bought a new stake in shares of Brighthouse Financial in the 1st quarter valued at about $4,036,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Brighthouse Financial in the first quarter valued at about $23,459,000. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

Brighthouse Financial stock opened at $51.87 on Wednesday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 4.14 and a beta of 0.87. Brighthouse Financial, Inc. has a 52-week low of $42.07 and a 52-week high of $66.80. The stock’s 50 day moving average price is $61.82 and its two-hundred day moving average price is $61.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BHF shares. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brighthouse Financial in a research report on Friday, August 7th. Finally, Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average 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.