Bank of Nova Scotia Purchases Shares of 30,537 Brighthouse Financial, Inc. (NASDAQ:BHF)

Bank of Nova Scotia purchased a new stake in Brighthouse Financial, Inc. (NASDAQ:BHFGet Rating) during the 2nd quarter, Holdings Channel reports. The fund purchased 30,537 shares of the company’s stock, valued at approximately $1,253,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FinTrust Capital Advisors LLC lifted its stake in shares of Brighthouse Financial by 0.5% during the second quarter. FinTrust Capital Advisors LLC now owns 52,419 shares of the company’s stock valued at $2,175,000 after buying an additional 244 shares during the period. Captrust Financial Advisors lifted its stake in shares of Brighthouse Financial by 9.6% during the first quarter. Captrust Financial Advisors now owns 3,071 shares of the company’s stock valued at $159,000 after buying an additional 268 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Brighthouse Financial by 1.9% during the first quarter. Teacher Retirement System of Texas now owns 16,410 shares of the company’s stock valued at $848,000 after buying an additional 310 shares during the period. Xponance Inc. raised its stake in Brighthouse Financial by 3.7% during the second quarter. Xponance Inc. now owns 8,854 shares of the company’s stock worth $363,000 after purchasing an additional 314 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in Brighthouse Financial by 42.4% during the second quarter. Meeder Asset Management Inc. now owns 1,148 shares of the company’s stock worth $47,000 after purchasing an additional 342 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

BHF has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of 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. TheStreet downgraded shares of Brighthouse Financial from a “b” rating to a “c+” rating in a research note on Monday, November 7th. Morgan Stanley increased their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI increased their price target on shares of Brighthouse Financial to $55.00 in a research note on Tuesday. Finally, Barclays increased their price objective on shares of Brighthouse Financial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, October 14th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.22.

Brighthouse Financial Price Performance

BHF opened at $53.80 on Friday. The company has a fifty day simple moving average of $50.41 and a 200 day simple moving average of $47.22. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 4.71 and a beta of 1.37. Brighthouse Financial, Inc. has a twelve month low of $38.38 and a twelve month high of $62.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.54.

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

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

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