Clear Harbor Asset Management LLC Purchases New Position in Brighthouse Financial, Inc. $BHF

Clear Harbor Asset Management LLC acquired a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,318 shares of the company’s stock, valued at approximately $919,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Brighthouse Financial by 156.2% during the first quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock worth $15,245,000 after acquiring an additional 160,272 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Brighthouse Financial by 835.2% in the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after purchasing an additional 735 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Brighthouse Financial during the 1st quarter valued at $226,000. Woodline Partners LP purchased a new stake in Brighthouse Financial during the 1st quarter worth about $12,536,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Brighthouse Financial by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company’s stock worth $12,128,000 after purchasing an additional 13,245 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Trading Down 0.1%

Shares of BHF opened at $64.70 on Friday. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.33. The company has a market capitalization of $3.70 billion, a P/E ratio of 4.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $64.56 and its 200 day simple moving average is $54.42.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Friday, November 7th. The company reported $4.54 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.55). The company had revenue of $2.17 billion during 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%.Brighthouse Financial’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.99 EPS. Sell-side analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BHF shares. Evercore ISI reduced their target price on Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of Brighthouse Financial in a research report on Monday, December 29th. Barclays lowered shares of Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Brighthouse Financial from $50.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, November 7th. Finally, Morgan Stanley set a $70.00 price target on shares of Brighthouse Financial in a report on Thursday, November 6th. Nine research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Brighthouse Financial has a consensus rating of “Reduce” and an average price target of $63.70.

Brighthouse Financial 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.