Everence Capital Management Inc. purchased a new position in Brighthouse Financial Inc (NASDAQ:BHF) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,673 shares of the company’s stock, valued at approximately $251,000.
Several other institutional investors have also modified their holdings of the stock. EJF Capital LLC increased its stake in shares of Brighthouse Financial by 157.7% in the 2nd quarter. EJF Capital LLC now owns 1,262,500 shares of the company’s stock worth $50,588,000 after acquiring an additional 772,500 shares in the last quarter. Northern Trust Corp increased its stake in shares of Brighthouse Financial by 20.0% in the 2nd quarter. Northern Trust Corp now owns 1,199,113 shares of the company’s stock worth $48,048,000 after acquiring an additional 199,652 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Brighthouse Financial in the 3rd quarter worth about $37,343,000. Miller Value Partners LLC bought a new position in shares of Brighthouse Financial in the 2nd quarter worth about $33,283,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Brighthouse Financial in the 1st quarter worth about $41,722,000. Institutional investors own 87.44% of the company’s stock.
A number of research firms have weighed in on BHF. BidaskClub upgraded shares of Brighthouse Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Bank of America restated a “neutral” rating and set a $47.00 price objective on shares of Brighthouse Financial in a research note on Wednesday, October 3rd. ValuEngine lowered shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Barclays lowered shares of Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research note on Friday, August 10th. Finally, Morgan Stanley reduced their price objective on shares of Brighthouse Financial from $60.00 to $58.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $56.43.
Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Monday, August 6th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.69). Brighthouse Financial had a negative net margin of 7.88% and a positive return on equity of 5.58%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.05 billion. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Brighthouse Financial Inc will post 8.19 EPS for the current year.
Brighthouse Financial Company Profile
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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