Massachusetts Financial Services Co. MA acquired a new position in Brighthouse Financial Inc (NASDAQ:BHF) during the third quarter, Holdings Channel reports. The fund acquired 306,292 shares of the company’s stock, valued at approximately $13,550,000.
Other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank acquired a new position in Brighthouse Financial in the third quarter valued at approximately $142,000. Hexavest Inc. acquired a new position in Brighthouse Financial in the second quarter valued at approximately $158,000. Whittier Trust Co. acquired a new position in Brighthouse Financial in the third quarter valued at approximately $176,000. Raymond James Trust N.A. acquired a new position in Brighthouse Financial in the third quarter valued at approximately $216,000. Finally, Everence Capital Management Inc. acquired a new position in Brighthouse Financial in the third quarter valued at approximately $251,000. 87.32% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on BHF shares. ValuEngine downgraded Brighthouse Financial from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Barclays downgraded Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a report on Friday, August 10th. Credit Suisse Group upgraded Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 price objective for the company in a report on Wednesday, August 15th. They noted that the move was a valuation call. BidaskClub upgraded Brighthouse Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 6th. Finally, Bank of America restated a “neutral” rating and set a $47.00 price objective on shares of Brighthouse Financial in a report on Wednesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $56.07.
Shares of Brighthouse Financial stock opened at $44.03 on Wednesday. Brighthouse Financial Inc has a 12-month low of $37.68 and a 12-month high of $67.55. The firm has a market cap of $4.90 billion, a P/E ratio of 6.34, a P/E/G ratio of 0.52 and a beta of 1.56. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.27.
Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Monday, November 5th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.04. Brighthouse Financial had a positive return on equity of 5.58% and a negative net margin of 7.88%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company posted $3.31 earnings per share. On average, equities analysts anticipate that Brighthouse Financial Inc will post 8.19 EPS for the current year.
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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.
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