Credit Industriel ET Commercial Takes Position in Brighthouse Financial, Inc. $BHF

Credit Industriel ET Commercial purchased a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 155,196 shares of the company’s stock, valued at approximately $10,055,000. Brighthouse Financial accounts for about 0.8% of Credit Industriel ET Commercial’s holdings, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Brighthouse Financial by 66.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after buying an additional 226 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of 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 buying an additional 535 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Brighthouse Financial by 225.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the period. Danske Bank A S bought a new position in shares of Brighthouse Financial during the 3rd quarter valued at $37,000. Finally, Torren Management LLC bought a new position in shares of Brighthouse Financial during the 4th quarter valued at $50,000. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

NASDAQ:BHF opened at $62.73 on Wednesday. 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 business’s 50-day simple moving average is $60.77 and its two-hundred day simple moving average is $61.65. The stock has a market cap of $3.60 billion, a PE ratio of 10.82 and a beta of 0.87. Brighthouse Financial, Inc. has a 52 week low of $42.07 and a 52 week high of $66.33.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays cut Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price target on the stock. in a report on Thursday, January 8th. Argus raised Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Zacks Research cut Brighthouse Financial from a “hold” rating to a “strong sell” rating in a report on Monday, March 30th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $67.00 price objective on shares of Brighthouse Financial in a research note on Thursday, March 26th. Eight investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $60.86.

Brighthouse Financial Company 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.