Commerce Bank Takes Position in Brighthouse Financial, Inc. $BHF

Commerce Bank purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,700 shares of the company’s stock, valued at approximately $994,000.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Brighthouse Financial in the second quarter valued at $341,422,000. Dimensional Fund Advisors LP increased its holdings in Brighthouse Financial by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,555,823 shares of the company’s stock worth $212,926,000 after acquiring an additional 60,791 shares during the last quarter. UBS Group AG increased its holdings in Brighthouse Financial by 98.1% in the 3rd quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock worth $181,177,000 after acquiring an additional 1,690,064 shares during the last quarter. HBK Investments L P bought a new stake in Brighthouse Financial in the 4th 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. Institutional investors own 81.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BHF shares. Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen raised Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Finally, Weiss Ratings upgraded Brighthouse Financial from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $60.50.

Brighthouse Financial Stock Performance

Brighthouse Financial stock opened at $52.49 on Thursday. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.80. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $3.02 billion, a PE ratio of 4.19 and a beta of 0.87. The firm’s 50 day simple moving average is $61.60 and its 200 day simple moving average is $61.66.

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