Assetmark Inc. acquired a new position in Brighthouse Financial Inc (NASDAQ:BHF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 197,913 shares of the company’s stock, valued at approximately $8,756,000. Assetmark Inc. owned approximately 0.17% of Brighthouse Financial as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the business. Poplar Forest Capital LLC grew its position in Brighthouse Financial by 5.6% in the 3rd quarter. Poplar Forest Capital LLC now owns 24,310 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,300 shares in the last quarter. Hartford Investment Management Co. boosted its stake in Brighthouse Financial by 12.5% in the third quarter. Hartford Investment Management Co. now owns 15,496 shares of the company’s stock valued at $686,000 after acquiring an additional 1,716 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in Brighthouse Financial by 21.3% in the second quarter. Glen Harbor Capital Management LLC now owns 15,096 shares of the company’s stock valued at $605,000 after acquiring an additional 2,652 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Brighthouse Financial by 7.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 37,681 shares of the company’s stock valued at $1,667,000 after acquiring an additional 2,764 shares during the last quarter. Finally, First Hawaiian Bank purchased a new position in Brighthouse Financial in the third quarter valued at about $142,000. 90.58% of the stock is owned by institutional investors and hedge funds.
A number of research 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 target price on the stock. in a research note on Friday, August 10th. Bank of America dropped their target price on shares of Brighthouse Financial from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 6th. Credit Suisse Group upgraded shares of Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 target price on the stock in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Morgan Stanley dropped their target price on shares of Brighthouse Financial from $58.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 6th. Finally, BidaskClub upgraded shares of Brighthouse Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Brighthouse Financial presently has an average rating of “Hold” and an average target price of $56.07.
Shares of BHF stock opened at $34.47 on Friday. The company has a market cap of $4.60 billion, a P/E ratio of 6.23, a price-to-earnings-growth ratio of 0.51 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.46 and a current ratio of 0.46. Brighthouse Financial Inc has a 12 month low of $34.27 and a 12 month high of $67.55.
Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Monday, November 5th. The company reported $2.23 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.04. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Brighthouse Financial had a net margin of 1.33% and a return on equity of 5.49%. During the same period in the prior year, the company posted $3.31 EPS. As a group, research analysts forecast that Brighthouse Financial Inc will post 8.04 EPS for the current year.
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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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