QRG Capital Management Inc. Buys Shares of 14,545 Brighthouse Financial, Inc. $BHF

QRG Capital Management Inc. bought a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF) during the second quarter, Holdings Channel reports. The institutional investor bought 14,545 shares of the company’s stock, valued at approximately $782,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in Brighthouse Financial by 42.0% in the first quarter. Brooklyn Investment Group now owns 764 shares of the company’s stock valued at $44,000 after purchasing an additional 226 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Brighthouse Financial by 835.2% in the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after purchasing an additional 735 shares in the last quarter. UMB Bank n.a. grew its stake in Brighthouse Financial by 101.7% in the first quarter. UMB Bank n.a. now owns 1,200 shares of the company’s stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. Parallel Advisors LLC grew its stake in Brighthouse Financial by 19.4% in the second quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $73,000 after purchasing an additional 222 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Brighthouse Financial by 11.0% in the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company’s stock valued at $118,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

NASDAQ BHF opened at $48.31 on Friday. Brighthouse Financial, Inc. has a twelve month low of $42.07 and a twelve month high of $64.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $2.76 billion, a PE ratio of 5.23 and a beta of 0.86. The stock has a 50-day simple moving average of $48.37 and a 200 day simple moving average of $52.58.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, August 7th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $4.70 by ($1.27). Brighthouse Financial had a return on equity of 21.06% and a net margin of 10.24%.The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm posted $5.57 EPS. Brighthouse Financial’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

Analysts Set New Price Targets

BHF has been the topic of a number of recent research reports. Piper Sandler restated a “neutral” rating and issued a $53.00 target price on shares of Brighthouse Financial in a research note on Tuesday. Wall Street Zen downgraded Brighthouse Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Brighthouse Financial in a research note on Saturday, September 27th. Evercore ISI decreased their price target on Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, Barclays decreased their price target on Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and an average target price of $59.30.

About Brighthouse Financial

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 consists of 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.