California Public Employees Retirement System trimmed its position in shares of Brighthouse Financial Inc (NASDAQ:BHF) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,642 shares of the company’s stock after selling 14,713 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Brighthouse Financial worth $6,557,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new stake in Brighthouse Financial in the 1st quarter valued at $145,000. Envestnet Asset Management Inc. acquired a new stake in Brighthouse Financial in the 1st quarter valued at $173,000. Ostrum Asset Management acquired a new stake in Brighthouse Financial in the 1st quarter valued at $187,000. Hexavest Inc. purchased a new position in Brighthouse Financial in the 2nd quarter valued at about $158,000. Finally, Blair William & Co. IL purchased a new position in Brighthouse Financial in the 1st quarter valued at about $220,000. Institutional investors and hedge funds own 87.40% of the company’s stock.
NASDAQ:BHF opened at $42.99 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.46 and a quick ratio of 0.46. Brighthouse Financial Inc has a 1-year low of $39.24 and a 1-year high of $67.55. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 6.86 and a beta of 1.96.
Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Monday, August 6th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.69). Brighthouse Financial had a positive return on equity of 5.58% and a negative net margin of 7.88%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that Brighthouse Financial Inc will post 8.23 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on BHF shares. Barclays cut 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 report on Friday, August 10th. ValuEngine cut shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Credit Suisse Group raised shares of Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 price objective for the company in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Morgan Stanley decreased 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 report on Wednesday, July 11th. Finally, Bank of America reissued a “neutral” rating and issued a $47.00 price objective on shares of Brighthouse Financial in a research report on Wednesday, October 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $56.87.
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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