Cannon Global Investment Management LLC Has $299,000 Stock Position in Brighthouse Financial, Inc. $BHF

Cannon Global Investment Management LLC trimmed its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 67.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company’s stock after selling 10,500 shares during the period. Cannon Global Investment Management LLC’s holdings in Brighthouse Financial were worth $299,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BHF. Millennium Management LLC increased its stake in shares of Brighthouse Financial by 156.2% in the first quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock valued at $15,245,000 after buying an additional 160,272 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after acquiring an additional 735 shares during the period. United Services Automobile Association acquired a new stake in shares of Brighthouse Financial during the first quarter worth $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Brighthouse Financial by 6.8% in 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 valued at $12,128,000 after acquiring an additional 13,245 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Brighthouse Financial by 12.5% in the second quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock valued at $350,000 after purchasing an additional 725 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Trading Up 0.7%

Shares of Brighthouse Financial stock opened at $63.15 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.63 billion, a P/E ratio of -21.19 and a beta of 0.86. The stock has a fifty day simple moving average of $62.45 and a 200 day simple moving average of $62.66. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month high of $66.33.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the firm earned $4.17 earnings per share. The firm’s revenue was down 29.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Brighthouse Financial, Inc. will post 19.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 price target on shares of Brighthouse Financial in a research report on Thursday, March 26th. Weiss Ratings downgraded Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Argus upgraded Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Finally, Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Eight research analysts have rated the stock with a Hold rating and three 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.

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.