Bayforest Capital Ltd Takes $667,000 Position in Brighthouse Financial, Inc. $BHF

Bayforest Capital Ltd bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 12,561 shares of the company’s stock, valued at approximately $667,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Brighthouse Financial during the 2nd quarter valued at $41,182,000. First Trust Advisors LP boosted its stake in Brighthouse Financial by 2,224.3% during the second quarter. First Trust Advisors LP now owns 514,080 shares of the company’s stock valued at $27,642,000 after buying an additional 491,962 shares in the last quarter. Soros Fund Management LLC grew its holdings in Brighthouse Financial by 47.9% during the second quarter. Soros Fund Management LLC now owns 764,750 shares of the company’s stock worth $41,121,000 after acquiring an additional 247,846 shares during the period. Bank of America Corp DE raised its position in Brighthouse Financial by 120.1% in the second quarter. Bank of America Corp DE now owns 322,746 shares of the company’s stock worth $17,354,000 after acquiring an additional 176,101 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in Brighthouse Financial in the 2nd quarter valued at about $9,326,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BHF has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Brighthouse Financial from $50.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. Morgan Stanley set a $70.00 price target on Brighthouse Financial in a report on Thursday, November 6th. Evercore ISI reduced their price objective on Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Wells Fargo & Company lifted their target price on Brighthouse Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Finally, Barclays downgraded Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price for the company. in a report on Thursday. Nine research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $63.70.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $64.70 on Friday. The company’s fifty day moving average is $64.56 and its two-hundred day moving average is $54.42. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.49. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month high of $66.33. The company has a market cap of $3.70 billion, a P/E ratio of 4.41 and a beta of 0.97.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Friday, November 7th. The company reported $4.54 EPS for the quarter, missing the consensus estimate of $5.09 by ($0.55). Brighthouse Financial had a return on equity of 20.59% and a net margin of 15.39%.The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business earned $3.99 EPS. The business’s quarterly revenue was down 10.0% on a year-over-year basis. Equities analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

About Brighthouse Financial

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.