Kendall Capital Management Invests $1.06 Million in Brighthouse Financial, Inc. $BHF

Kendall Capital Management bought a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,725 shares of the company’s stock, valued at approximately $1,059,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Brighthouse Financial in the 2nd quarter valued at $341,422,000. Dimensional Fund Advisors LP raised its holdings in Brighthouse Financial by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,555,823 shares of the company’s stock worth $212,926,000 after buying an additional 60,791 shares during the period. UBS Group AG raised its holdings in Brighthouse Financial by 98.1% during the 3rd quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock worth $181,177,000 after buying an additional 1,690,064 shares during the period. HBK Investments L P purchased a new stake in Brighthouse Financial during the fourth quarter valued at about $136,059,000. Finally, Glazer Capital LLC purchased a new stake in Brighthouse Financial during the fourth quarter valued at about $113,252,000. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Brighthouse Financial Trading Down 1.8%

NASDAQ:BHF opened at $52.27 on Friday. The company has a market capitalization of $3.01 billion, a P/E ratio of 4.17 and a beta of 0.87. The stock’s 50 day moving average price is $62.27 and its 200 day moving average price is $61.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96. Brighthouse Financial, Inc. has a 52 week low of $42.07 and a 52 week 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 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 analyst estimates of $2.18 billion. During the same quarter last year, the firm earned $3.43 earnings per share. Brighthouse Financial’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts forecast that Brighthouse Financial, Inc. will post 18.83 EPS for the current fiscal year.

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.