AlphaCrest Capital Management LLC Buys 33,591 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

AlphaCrest Capital Management LLC raised its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHFGet Rating) by 282.3% during the second quarter, HoldingsChannel reports. The fund owned 45,491 shares of the company’s stock after acquiring an additional 33,591 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Brighthouse Financial were worth $1,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Brighthouse Financial by 12.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,277 shares of the company’s stock worth $273,000 after purchasing an additional 564 shares during the period. Victory Capital Management Inc. lifted its stake in Brighthouse Financial by 0.3% in the first quarter. Victory Capital Management Inc. now owns 376,948 shares of the company’s stock worth $19,465,000 after purchasing an additional 1,286 shares during the last quarter. Chemistry Wealth Management LLC bought a new stake in Brighthouse Financial in the first quarter worth about $861,000. Independent Advisor Alliance boosted its position in shares of Brighthouse Financial by 83.8% during the first quarter. Independent Advisor Alliance now owns 19,487 shares of the company’s stock valued at $1,007,000 after buying an additional 8,885 shares during the period. Finally, IndexIQ Advisors LLC bought a new position in shares of Brighthouse Financial during the first quarter valued at approximately $395,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

BHF has been the subject of a number of research analyst reports. Evercore ISI raised their price target on Brighthouse Financial to $55.00 in a research note on Tuesday, November 15th. Wells Fargo & Company decreased their target price on Brighthouse Financial from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 12th. Barclays upped their price target on shares of Brighthouse Financial from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday, October 14th. Morgan Stanley lifted their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, November 17th. Finally, TheStreet downgraded shares of Brighthouse Financial from a “b” rating to a “c+” rating in a research note on Monday, November 7th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.22.

Brighthouse Financial Stock Down 1.1 %

NASDAQ:BHF opened at $54.68 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.59 and a quick ratio of 0.59. Brighthouse Financial, Inc. has a 1-year low of $38.38 and a 1-year high of $62.33. The company has a 50-day moving average of $50.70 and a 200 day moving average of $47.19. The firm has a market cap of $3.78 billion, a PE ratio of 4.78 and a beta of 1.37.

Brighthouse Financial (NASDAQ:BHFGet Rating) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.78 by ($0.82). Brighthouse Financial had a net margin of 10.06% and a return on equity of 9.50%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, research analysts anticipate that Brighthouse Financial, Inc. will post 11.43 EPS for the current fiscal year.

Brighthouse Financial Company Profile

(Get Rating)

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment offers variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.

See Also

Want to see what other hedge funds are holding BHF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brighthouse Financial, Inc. (NASDAQ:BHFGet Rating).

Institutional Ownership by Quarter for Brighthouse Financial (NASDAQ:BHF)

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