Miller Value Partners LLC acquired a new stake in Brighthouse Financial Inc (NASDAQ:BHF) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 830,612 shares of the company’s stock, valued at approximately $33,283,000. Miller Value Partners LLC owned approximately 0.69% of Brighthouse Financial at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. purchased a new stake in shares of Brighthouse Financial in the first quarter valued at about $105,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new stake in shares of Brighthouse Financial in the first quarter valued at about $145,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Brighthouse Financial in the first quarter valued at about $127,000. Envestnet Asset Management Inc. purchased a new stake in shares of Brighthouse Financial in the first quarter valued at about $173,000. Finally, Ostrum Asset Management purchased a new stake in shares of Brighthouse Financial in the first quarter valued at about $187,000. 87.42% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ BHF opened at $41.97 on Monday. Brighthouse Financial Inc has a 52-week low of $39.24 and a 52-week high of $67.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market cap of $4.82 billion and a P/E ratio of 6.23.
Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Monday, August 6th. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.69). Brighthouse Financial had a positive return on equity of 5.58% and a negative net margin of 7.88%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue was down .7% compared to the same quarter last year. equities research analysts anticipate that Brighthouse Financial Inc will post 8.23 EPS for the current year.
Several analysts have recently commented on the stock. ValuEngine upgraded shares of Brighthouse Financial from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Credit Suisse Group upgraded shares of Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a report on Wednesday, August 15th. They noted that the move was a valuation call. Barclays downgraded shares of Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a report on Friday, August 10th. B. Riley lowered their target price on shares of Brighthouse Financial from $59.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 16th. Finally, Morgan Stanley decreased their price objective on shares of Brighthouse Financial from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Brighthouse Financial presently has an average rating of “Hold” and a consensus price target of $57.57.
About Brighthouse Financial
Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It 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; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.
Read More: Growth Stocks
Want to see what other hedge funds are holding BHF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brighthouse Financial Inc (NASDAQ:BHF).
Receive News & Ratings for Brighthouse Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brighthouse Financial and related companies with MarketBeat.com's FREE daily email newsletter.