OppenheimerFunds Inc. bought a new stake in shares of Brighthouse Financial (NASDAQ:BHF) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 16,597 shares of the company’s stock, valued at approximately $853,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Brighthouse Financial during the first quarter worth $351,396,000. Diamond Hill Capital Management Inc. acquired a new position in Brighthouse Financial during the first quarter worth $189,335,000. JPMorgan Chase & Co. acquired a new position in Brighthouse Financial during the first quarter worth $117,441,000. Northern Trust Corp acquired a new position in Brighthouse Financial during the first quarter worth $51,372,000. Finally, Dimensional Fund Advisors LP acquired a new position in Brighthouse Financial during the first quarter worth $41,722,000. Institutional investors own 86.65% of the company’s stock.
Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $63.00 price objective on shares of Brighthouse Financial in a report on Friday, February 23rd. Zacks Investment Research downgraded shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. UBS Group assumed coverage on shares of Brighthouse Financial in a report on Friday, March 2nd. They set a “neutral” rating and a $58.00 price objective on the stock. Wells Fargo & Co set a $59.00 price objective on shares of Brighthouse Financial and gave the stock a “hold” rating in a report on Friday, March 23rd. Finally, Credit Suisse Group assumed coverage on shares of Brighthouse Financial in a research note on Wednesday, April 25th. They issued an “underperform” rating and a $44.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.66.
Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Monday, May 7th. The company reported $2.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.33. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.07 billion. Brighthouse Financial had a negative net margin of 1.25% and a positive return on equity of 5.93%. equities analysts predict that Brighthouse Financial will post 8.44 EPS for the current year.
About Brighthouse Financial
Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It 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; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.
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