The Manufacturers Life Insurance Company Has $1.75 Million Holdings in Brighthouse Financial, Inc. $BHF

The Manufacturers Life Insurance Company lessened its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 25.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,243 shares of the company’s stock after selling 10,211 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Brighthouse Financial were worth $1,751,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BHF. NewEdge Advisors LLC grew its position in Brighthouse Financial by 442.5% in the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after acquiring an additional 354 shares during the period. Bessemer Group Inc. boosted its stake in shares of Brighthouse Financial by 390.3% in the 1st quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after purchasing an additional 226 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Brighthouse Financial in the 3rd quarter valued at $37,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Brighthouse Financial by 835.2% in the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after purchasing an additional 735 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BHF shares. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Wall Street Zen raised shares of Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings lowered shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Eight research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $60.50.

Brighthouse Financial Price Performance

Brighthouse Financial stock opened at $60.80 on Monday. The business’s fifty day moving average is $63.50 and its two-hundred day moving average is $62.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $3.50 billion, a P/E ratio of 4.85 and a beta of 0.87. Brighthouse Financial, Inc. has a 52 week low of $42.07 and a 52 week high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Thursday, August 6th. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the firm earned $3.43 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Brighthouse Financial, Inc. will post 19.2 earnings per share for the current fiscal 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.