Burney Co. lowered its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,654 shares of the company’s stock after selling 1,925 shares during the quarter. Burney Co.’s holdings in Brighthouse Financial were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in BHF. CWM LLC boosted its stake in Brighthouse Financial by 71.9% in the 2nd quarter. CWM LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 356 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Brighthouse Financial during the 1st quarter valued at approximately $50,000. Spire Wealth Management boosted its position in shares of Brighthouse Financial by 137.7% during the 1st quarter. Spire Wealth Management now owns 2,358 shares of the company’s stock valued at $104,000 after acquiring an additional 1,366 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Brighthouse Financial during the 1st quarter valued at approximately $151,000. Finally, Captrust Financial Advisors boosted its position in shares of Brighthouse Financial by 9.6% during the 1st quarter. Captrust Financial Advisors now owns 3,071 shares of the company’s stock valued at $159,000 after acquiring an additional 268 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on BHF shares. Piper Sandler decreased their price target on Brighthouse Financial from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. Morgan Stanley increased their price target on Brighthouse Financial from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. The Goldman Sachs Group downgraded Brighthouse Financial from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $47.00 to $43.00 in a research report on Thursday, September 21st. Barclays raised their price objective on Brighthouse Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 10th. Finally, Wells Fargo & Company dropped their price target on Brighthouse Financial from $48.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Brighthouse Financial has a consensus rating of “Hold” and a consensus price target of $50.33.
Brighthouse Financial Price Performance
Shares of NASDAQ BHF opened at $50.64 on Friday. The business’s 50 day moving average price is $48.01 and its 200 day moving average price is $47.07. The firm has a market cap of $3.25 billion, a P/E ratio of -2.84 and a beta of 1.31. Brighthouse Financial, Inc. has a 52 week low of $39.24 and a 52 week high of $60.54. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.76.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.15. Brighthouse Financial had a positive return on equity of 20.78% and a negative net margin of 35.83%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the company posted ($0.04) earnings per share. On average, sell-side analysts expect that Brighthouse Financial, Inc. will post 14.88 earnings per share for the current year.
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 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.
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