Assenagon Asset Management S.A. Makes New Investment in Brighthouse Financial, Inc. $BHF

Assenagon Asset Management S.A. acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 162,145 shares of the company’s stock, valued at approximately $10,505,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after purchasing an additional 226 shares in the last quarter. Clearstead Advisors LLC increased its stake in Brighthouse Financial by 540.4% during the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Brighthouse Financial by 225.5% in the third quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the last quarter. Danske Bank A S purchased a new position in shares of Brighthouse Financial in the third quarter worth $37,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after buying an additional 735 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Stock Down 0.8%

Shares of BHF opened at $59.98 on Friday. Brighthouse Financial, Inc. has a 52-week low of $42.07 and a 52-week high of $66.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $62.14 and a two-hundred day simple moving average of $59.66. The company has a market capitalization of $3.43 billion, a PE ratio of 10.34 and a beta of 0.96.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $67.00 target price on shares of Brighthouse Financial in a research report on Thursday. Barclays downgraded Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price target on the stock. in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Brighthouse Financial in a report on Monday, December 29th. Finally, Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 17th. Eight investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $60.86.

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.