Louisiana State Employees Retirement System purchased a new position in shares of Brighthouse Financial Inc (NASDAQ:BHF) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,200 shares of the company’s stock, valued at approximately $225,000.
Other large investors have also recently added to or reduced their stakes in the company. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new stake in Brighthouse Financial in the fourth quarter valued at approximately $32,000. Bessemer Group Inc. boosted its holdings in Brighthouse Financial by 68.3% in the fourth quarter. Bessemer Group Inc. now owns 865 shares of the company’s stock valued at $27,000 after acquiring an additional 351 shares during the last quarter. Pearl River Capital LLC bought a new stake in Brighthouse Financial in the fourth quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Brighthouse Financial by 162.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 954 shares of the company’s stock valued at $29,000 after acquiring an additional 591 shares during the last quarter. Finally, CSat Investment Advisory L.P. boosted its holdings in Brighthouse Financial by 91.5% in the fourth quarter. CSat Investment Advisory L.P. now owns 2,064 shares of the company’s stock valued at $63,000 after acquiring an additional 986 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.
Several analysts recently commented on BHF shares. Wells Fargo & Co reiterated a “hold” rating on shares of Brighthouse Financial in a report on Tuesday, January 8th. Sandler O’Neill upgraded Brighthouse Financial from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Deutsche Bank cut Brighthouse Financial from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Zacks Investment Research cut Brighthouse Financial from a “hold” rating to a “sell” rating in a report on Monday, January 21st. Finally, Citigroup cut Brighthouse Financial from a “neutral” rating to a “sell” rating and reduced their target price for the company from $39.00 to $35.00 in a report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.64.
Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Monday, February 11th. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.18). The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. Brighthouse Financial had a return on equity of 6.53% and a net margin of 9.65%. As a group, sell-side analysts forecast that Brighthouse Financial Inc will post 8.99 EPS 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.
Further Reading: What is a balanced fund?
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