Cannon Global Investment Management LLC Sells 10,500 Shares of Brighthouse Financial, Inc. $BHF

by · The Cerbat Gem

Cannon Global Investment Management LLC trimmed its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) by 67.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,000 shares of the company’s stock after selling 10,500 shares during the period. Cannon Global Investment Management LLC’s holdings in Brighthouse Financial were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BHF. NewEdge Advisors LLC lifted its position in shares of Brighthouse Financial by 442.5% in the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after acquiring an additional 354 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after purchasing an additional 226 shares during the last quarter. Clearstead Advisors LLC raised its position in Brighthouse Financial by 540.4% during the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Danske Bank A S bought a new stake in shares of Brighthouse Financial in the 3rd quarter valued at about $37,000. Finally, Torren Management LLC bought a new stake in Brighthouse Financial during the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock opened at $63.15 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -21.19 and a beta of 0.86. The business has a 50-day moving average of $62.45 and a 200 day moving average of $62.66. Brighthouse Financial, Inc. has a 12 month low of $42.07 and a 12 month high of $66.33.

Brighthouse Financial (NASDAQ:BHF – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. During the same quarter last year, the business posted $4.17 earnings per share. The company’s revenue for the quarter was down 29.4% on a year-over-year basis. As a group, sell-side analysts forecast that Brighthouse Financial, Inc. will post 19.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on BHF. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Argus raised Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $67.00 price target on shares of Brighthouse Financial in a report on Thursday, March 26th. Eight investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Brighthouse Financial has an average rating of “Reduce” and a consensus price target of $60.86.

Check Out Our Latest Research Report on Brighthouse Financial

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.

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