Pinnacle Holdings LLC Acquires Shares of 43,518 Brighthouse Financial, Inc. $BHF

Pinnacle Holdings LLC acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 43,518 shares of the company’s stock, valued at approximately $2,755,000.

Several other large investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Brighthouse Financial in the second quarter worth $27,000. NewEdge Advisors LLC lifted its position in Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after purchasing an additional 354 shares during the period. Bessemer Group Inc. lifted its position in Brighthouse Financial by 390.3% during the first quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after purchasing an additional 402 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after purchasing an additional 226 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Brighthouse Financial in the third quarter valued at $37,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Price Performance

NASDAQ:BHF opened at $52.27 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 4.17 and a beta of 0.87. The company has a 50 day moving average price of $62.27 and a 200-day moving average price of $61.91. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the firm earned $3.43 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts forecast that Brighthouse Financial, Inc. will post 18.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BHF shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brighthouse Financial in a research report on Friday, August 7th. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Eight research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $60.50.

Brighthouse Financial 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.