Hsbc Holdings PLC Purchases New Position in Brighthouse Financial, Inc. $BHF

Hsbc Holdings PLC purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 332,362 shares of the company’s stock, valued at approximately $21,537,000. Hsbc Holdings PLC owned approximately 0.58% of Brighthouse Financial at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BHF. NewEdge Advisors LLC raised its stake in shares of Brighthouse Financial by 442.5% during the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after buying an additional 354 shares during the period. Smartleaf Asset Management LLC grew 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 valued at $31,000 after acquiring an additional 226 shares during the period. Clearstead Advisors LLC grew its stake in Brighthouse Financial by 540.4% in the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock valued at $34,000 after acquiring an additional 535 shares during the period. Danske Bank A S purchased a new stake in Brighthouse Financial in the 3rd quarter worth $37,000. Finally, Jones Financial Companies Lllp increased its holdings in Brighthouse Financial by 835.2% in 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 in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Brighthouse Financial stock opened at $63.09 on Thursday. The company has a fifty day simple moving average of $62.40 and a 200-day simple moving average of $62.68. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -21.17 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. Brighthouse Financial, Inc. has a 52-week low of $42.07 and a 52-week high of $66.33.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings cut shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Argus raised shares of Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $67.00 price target on shares of Brighthouse Financial in a research report on Thursday, March 26th. Finally, Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average 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.