Hsbc Holdings PLC Purchases Shares of 332,362 Brighthouse Financial, Inc. $BHF

by · The Cerbat Gem

Hsbc Holdings PLC purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) in the fourth quarter, Holdings Channel.com reports. The firm purchased 332,362 shares of the company’s stock, valued at approximately $21,537,000.

Several other institutional investors and hedge funds have also made changes to their positions in BHF. HBK Investments L P purchased a new stake in Brighthouse Financial during the fourth quarter worth approximately $136,059,000. Glazer Capital LLC acquired a new position in Brighthouse Financial in the fourth quarter valued at approximately $113,252,000. UBS Group AG increased its stake in Brighthouse Financial by 98.1% in the third quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock valued at $181,177,000 after purchasing an additional 1,690,064 shares during the last quarter. AQR Capital Management LLC increased its stake in Brighthouse Financial by 190.7% in the third quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company’s stock valued at $74,113,000 after purchasing an additional 915,902 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Brighthouse Financial by 149.5% during the fourth quarter. Morgan Stanley now owns 1,264,992 shares of the company’s stock worth $81,959,000 after purchasing an additional 758,010 shares in the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $67.00 price objective on shares of Brighthouse Financial in a research report on Thursday, March 26th. Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Argus raised Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Eight investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $60.50.

View Our Latest Stock Analysis on BHF

Brighthouse Financial Price Performance

Shares of BHF opened at $65.27 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 0.91. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.33. The firm has a 50-day simple moving average of $62.74 and a 200-day simple moving average of $62.59. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -21.90 and a beta of 0.86.

Brighthouse Financial (NASDAQ:BHF – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.20 billion. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The firm’s revenue was down 29.4% compared to the same quarter last year. During the same period in the previous year, the business posted $4.17 earnings per share. On average, equities research analysts anticipate that Brighthouse Financial, Inc. will post 19.73 earnings per share for the current year.

Brighthouse Financial Profile

(Free Report)

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.

See Also

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