B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new position in shares of Brighthouse Financial Inc (NASDAQ:BHF) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 732 shares of the company’s stock, valued at approximately $32,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BHF. Bessemer Group Inc. raised its position in shares of Brighthouse Financial by 68.3% during the 4th quarter. Bessemer Group Inc. now owns 865 shares of the company’s stock worth $27,000 after acquiring an additional 351 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of Brighthouse Financial during the 4th quarter worth about $26,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Brighthouse Financial by 162.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 954 shares of the company’s stock worth $29,000 after acquiring an additional 591 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in Brighthouse Financial by 91.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,064 shares of the company’s stock worth $63,000 after buying an additional 986 shares during the last quarter. Finally, Loeb Partners Corp purchased a new position in Brighthouse Financial during the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 94.12% of the company’s stock.
A number of research analysts recently issued reports on BHF shares. Wells Fargo & Co restated a “hold” rating on shares of Brighthouse Financial in a research note on Tuesday, January 8th. Sandler O’Neill upgraded Brighthouse Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Deutsche Bank downgraded Brighthouse Financial from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Zacks Investment Research downgraded Brighthouse Financial from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Finally, Citigroup cut Brighthouse Financial from a “neutral” rating to a “sell” rating and reduced their price target for the company from $39.00 to $35.00 in a report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $47.64.
Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Monday, February 11th. The company reported $1.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.18). Brighthouse Financial had a return on equity of 6.53% and a net margin of 9.65%. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $2.05 billion. As a group, equities research analysts predict that Brighthouse Financial Inc will post 8.99 earnings per share for the current year.
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Brighthouse Financial Profile
Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment offers variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.
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