Meitav Investment House Ltd. purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,240 shares of the company’s stock, valued at approximately $198,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC grew its position in shares of Brighthouse Financial by 71.9% in the second quarter. CWM LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 356 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Brighthouse Financial in the first quarter valued at about $50,000. Spire Wealth Management grew its position in shares of Brighthouse Financial by 137.7% in the first quarter. Spire Wealth Management now owns 2,358 shares of the company’s stock valued at $104,000 after purchasing an additional 1,366 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Brighthouse Financial in the first quarter valued at about $151,000. Finally, Captrust Financial Advisors grew its position in shares of Brighthouse Financial by 9.6% in the first quarter. Captrust Financial Advisors now owns 3,071 shares of the company’s stock valued at $159,000 after purchasing an additional 268 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Brighthouse Financial from $48.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Morgan Stanley upped their price objective on shares of Brighthouse Financial from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, August 18th. Barclays upped their price objective on shares of Brighthouse Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 10th. Jefferies Financial Group upped their price objective on shares of Brighthouse Financial from $46.00 to $54.00 and gave the company a “hold” rating in a research report on Thursday, September 14th. Finally, The Goldman Sachs Group lowered shares of Brighthouse Financial from a “neutral” rating to a “sell” rating and cut their price objective for the company from $47.00 to $43.00 in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.33.
Brighthouse Financial Price Performance
Shares of Brighthouse Financial stock opened at $50.64 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $48.01 and its 200-day simple moving average is $47.07. Brighthouse Financial, Inc. has a twelve month low of $39.24 and a twelve month high of $60.54. 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 (NASDAQ:BHF – Get Free Report) last issued its earnings results on Tuesday, November 7th. The company reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.15. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $2.17 billion. Brighthouse Financial had a negative net margin of 35.83% and a positive return on equity of 20.78%. During the same period in the previous year, the business earned ($0.04) EPS. As a group, research analysts expect that Brighthouse Financial, Inc. will post 14.88 EPS for the current fiscal year.
Brighthouse Financial Company Profile
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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