Highbridge Capital Management LLC Makes New $17.84 Million Investment in Brighthouse Financial, Inc. $BHF

Highbridge Capital Management LLC acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 275,390 shares of the company’s stock, valued at approximately $17,843,000.

Several other institutional investors have also recently modified their holdings of BHF. Millennium Management LLC increased its position in shares of Brighthouse Financial by 156.2% during the 1st quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock valued at $15,245,000 after purchasing an additional 160,272 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after purchasing an additional 735 shares during the last quarter. United Services Automobile Association bought a new position in shares of Brighthouse Financial during the 1st quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Brighthouse Financial by 6.8% during 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 purchasing an additional 13,245 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Brighthouse Financial by 12.5% during the 2nd quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock valued at $350,000 after purchasing an additional 725 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $67.00 price objective on shares of Brighthouse Financial in a research report on Thursday, March 26th. Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Argus upgraded Brighthouse Financial to a “hold” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings lowered Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $60.86.

Brighthouse Financial Trading Up 0.5%

Shares of BHF stock opened at $62.65 on Friday. The stock has a market capitalization of $3.60 billion, a PE ratio of -21.02 and a beta of 0.86. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.33. The business has a 50-day moving average of $61.67 and a 200 day moving average of $62.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.91 and a quick ratio of 0.91.

Brighthouse Financial (NASDAQ:BHF) last issued its 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 company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The company’s revenue was down 29.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.17 earnings per share. As a group, sell-side analysts anticipate that Brighthouse Financial, Inc. will post 19.79 earnings per share for the current year.

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.