Carlson Capital L.P. Takes $796,000 Position in Brighthouse Financial, Inc. $BHF

Carlson Capital L.P. acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $796,000. Brighthouse Financial accounts for about 0.3% of Carlson Capital L.P.’s portfolio, making the stock its 26th largest position.

A number of other institutional investors have also recently bought and sold shares of BHF. Four Tree Island Advisory LLC boosted its holdings in shares of Brighthouse Financial by 1.8% in the 2nd quarter. Four Tree Island Advisory LLC now owns 12,262 shares of the company’s stock valued at $659,000 after purchasing an additional 214 shares during the last quarter. Smartleaf Asset Management LLC raised its position 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 worth $31,000 after buying an additional 226 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Brighthouse Financial by 1.6% in the third quarter. Harbor Capital Advisors Inc. now owns 23,539 shares of the company’s stock valued at $1,249,000 after acquiring an additional 375 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in Brighthouse Financial by 3.4% during the second quarter. KLP Kapitalforvaltning AS now owns 12,200 shares of the company’s stock valued at $656,000 after acquiring an additional 400 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in Brighthouse Financial by 0.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 53,428 shares of the company’s stock worth $2,873,000 after acquiring an additional 460 shares during the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brighthouse Financial in a research note on Monday, December 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of Brighthouse Financial in a research report on Wednesday, November 12th. Morgan Stanley set a $70.00 price objective on shares of Brighthouse Financial in a research report on Thursday, November 6th. Barclays downgraded shares of Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a research note on Thursday, January 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Brighthouse Financial from $50.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Brighthouse Financial has an average rating of “Reduce” and an average price target of $63.67.

Brighthouse Financial Price Performance

Shares of BHF stock opened at $63.73 on Friday. The firm has a fifty day simple moving average of $64.68 and a 200-day simple moving average of $56.13. The company has a market capitalization of $3.64 billion, a PE ratio of 4.35 and a beta of 0.97. Brighthouse Financial, Inc. has a twelve month low of $42.07 and a twelve month high of $66.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Friday, November 7th. The company reported $4.54 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.55). Brighthouse Financial had a net margin of 15.39% and a return on equity of 20.59%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the company earned $3.99 earnings per share. The business’s quarterly revenue was down 10.0% on a year-over-year basis. Equities research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 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.