Great West Life Assurance Co. Can Acquires New Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Great West Life Assurance Co. Can acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) in the third quarter, HoldingsChannel.com reports. The firm acquired 102,212 shares of the company’s stock, valued at approximately $4,434,000.

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in Brighthouse Financial by 12.0% during the first quarter. Envestnet Asset Management Inc. now owns 5,277 shares of the company’s stock valued at $273,000 after purchasing an additional 564 shares during the period. Raymond James & Associates boosted its stake in shares of Brighthouse Financial by 70.5% in the first quarter. Raymond James & Associates now owns 7,543 shares of the company’s stock worth $390,000 after acquiring an additional 3,119 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Brighthouse Financial by 10.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the company’s stock worth $255,000 after acquiring an additional 487 shares during the period. Bank of Montreal Can boosted its stake in shares of Brighthouse Financial by 70.5% in the first quarter. Bank of Montreal Can now owns 14,122 shares of the company’s stock worth $737,000 after acquiring an additional 5,841 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Brighthouse Financial by 30.2% in the first quarter. MetLife Investment Management LLC now owns 50,351 shares of the company’s stock worth $2,601,000 after acquiring an additional 11,670 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Brighthouse Financial Trading Up 3.4 %

Shares of BHF stock opened at $53.03 on Monday. Brighthouse Financial, Inc. has a 1 year low of $38.38 and a 1 year high of $62.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $52.75 and its two-hundred day simple moving average is $49.47. The company has a market cap of $3.67 billion, a PE ratio of 4.64 and a beta of 1.35.

Brighthouse Financial (NASDAQ:BHF – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.82). Brighthouse Financial had a net margin of 10.06% and a return on equity of 9.50%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Research analysts predict that Brighthouse Financial, Inc. will post 9.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BHF. Morgan Stanley upped their price objective on Brighthouse Financial from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. Piper Sandler dropped their price objective on Brighthouse Financial from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, December 20th. Evercore ISI upped their price objective on Brighthouse Financial to $55.00 in a research note on Tuesday, November 15th. Wells Fargo & Company increased their price target on Brighthouse Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 18th. Finally, Barclays increased their price target on Brighthouse Financial from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.75.

Brighthouse Financial Company Profile

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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.