Corient Private Wealth LLC Has $2.55 Million Holdings in Brighthouse Financial, Inc. $BHF

Corient Private Wealth LLC boosted its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 134.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,392 shares of the company’s stock after buying an additional 27,206 shares during the quarter. Corient Private Wealth LLC’s holdings in Brighthouse Financial were worth $2,548,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. grew its holdings in shares of Brighthouse Financial by 558.8% in the 2nd quarter. Osaic Holdings Inc. now owns 9,309 shares of the company’s stock worth $501,000 after purchasing an additional 7,896 shares during the last quarter. Squarepoint Ops LLC bought a new position in Brighthouse Financial during the 2nd quarter valued at about $969,000. TT Capital Management LLC acquired a new position in Brighthouse Financial in the second quarter valued at about $233,000. State of Wyoming bought a new stake in Brighthouse Financial during the second quarter worth about $318,000. Finally, Caxton Associates LLP increased its holdings in shares of Brighthouse Financial by 18.1% during the second quarter. Caxton Associates LLP now owns 77,307 shares of the company’s stock worth $4,157,000 after buying an additional 11,854 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Price Performance

Brighthouse Financial stock opened at $64.86 on Tuesday. The business’s 50-day simple moving average is $59.74 and its 200 day simple moving average is $53.72. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 4.42 and a beta of 0.97. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month high of $66.33.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Friday, November 7th. The company reported $4.54 earnings per share for the quarter, missing the consensus estimate of $5.09 by ($0.55). The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.26 billion. Brighthouse Financial had a return on equity of 20.59% and a net margin of 15.39%.The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.99 earnings per share. As a group, research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on BHF shares. Morgan Stanley set a $70.00 target price on Brighthouse Financial in a report on Thursday, November 6th. Raymond James Financial reissued a “market perform” rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods increased their target price on Brighthouse Financial from $50.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brighthouse Financial in a report on Monday, December 15th. Finally, Wells Fargo & Company upped their price target on shares of Brighthouse Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $63.70.

Brighthouse Financial Company Profile

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.