Brighthouse Financial Inc (BHF) Position Raised by Glen Harbor Capital Management LLC

Glen Harbor Capital Management LLC boosted its stake in Brighthouse Financial Inc (NASDAQ:BHF) by 21.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,096 shares of the company’s stock after purchasing an additional 2,652 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in Brighthouse Financial were worth $605,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. acquired a new position in Brighthouse Financial during the first quarter valued at approximately $105,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in Brighthouse Financial during the first quarter valued at approximately $145,000. Municipal Employees Retirement System of Michigan acquired a new position in Brighthouse Financial during the first quarter valued at approximately $127,000. Envestnet Asset Management Inc. acquired a new position in Brighthouse Financial during the first quarter valued at approximately $173,000. Finally, Ostrum Asset Management acquired a new position in Brighthouse Financial during the first quarter valued at approximately $187,000. Hedge funds and other institutional investors own 87.42% of the company’s stock.

NASDAQ BHF opened at $41.97 on Friday. Brighthouse Financial Inc has a 52 week low of $39.24 and a 52 week high of $67.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $4.82 billion and a PE ratio of 6.23.



Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Monday, August 6th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.69). Brighthouse Financial had a positive return on equity of 5.58% and a negative net margin of 7.88%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.05 billion. Brighthouse Financial’s quarterly revenue was down .7% compared to the same quarter last year. equities research analysts anticipate that Brighthouse Financial Inc will post 8.23 earnings per share for the current year.

A number of brokerages have weighed in on BHF. Wells Fargo & Co reduced their price target on shares of Brighthouse Financial from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 19th. They noted that the move was a valuation call. Morgan Stanley reduced their price target on shares of Brighthouse Financial from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. B. Riley reduced their target price on shares of Brighthouse Financial from $59.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 16th. Evercore ISI raised shares of Brighthouse Financial from an “in-line” rating to an “outperform” rating and set a $68.00 target price on the stock in a research report on Friday, June 29th. Finally, Citigroup reissued a “neutral” rating on shares of Brighthouse Financial in a research report on Thursday, June 28th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Brighthouse Financial presently has an average rating of “Hold” and a consensus price target of $57.57.

Brighthouse Financial Profile

Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It 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; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.

Further Reading: Asset Allocation and Your Retirement

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:BHF).

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

Receive News & Ratings for Brighthouse Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brighthouse Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply