Point72 Hong Kong Ltd bought a new stake in shares of Brighthouse Financial Inc (NASDAQ:BHF) in the second quarter, Holdings Channel.com reports. The fund bought 7,063 shares of the company’s stock, valued at approximately $259,000.
Several other institutional investors and hedge funds also recently modified their holdings of BHF. Signaturefd LLC lifted its stake in Brighthouse Financial by 387.3% in the first quarter. Signaturefd LLC now owns 731 shares of the company’s stock worth $27,000 after acquiring an additional 581 shares during the period. Ossiam purchased a new stake in Brighthouse Financial in the second quarter worth about $60,000. Ayalon Holdings Ltd. purchased a new stake in Brighthouse Financial in the second quarter worth about $64,000. ETF Managers Group LLC lifted its stake in Brighthouse Financial by 9.9% in the first quarter. ETF Managers Group LLC now owns 2,785 shares of the company’s stock worth $101,000 after acquiring an additional 250 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Brighthouse Financial by 771.2% in the second quarter. Bessemer Group Inc. now owns 3,302 shares of the company’s stock worth $121,000 after acquiring an additional 2,923 shares during the period. 87.21% of the stock is owned by hedge funds and other institutional investors.
Brighthouse Financial stock traded down $0.65 during mid-day trading on Tuesday, hitting $39.97. The company had a trading volume of 347,448 shares, compared to its average volume of 1,093,171. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.27. Brighthouse Financial Inc has a 12-month low of $28.52 and a 12-month high of $47.33. The company’s fifty day moving average is $36.47 and its 200-day moving average is $37.80. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 5.37, a P/E/G ratio of 0.42 and a beta of 2.06.
Several analysts have commented on BHF shares. Credit Suisse Group lowered shares of Brighthouse Financial from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $35.00 to $22.00 in a research report on Tuesday, June 25th. Morgan Stanley decreased their price target on shares of Brighthouse Financial from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. BidaskClub raised shares of Brighthouse Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 17th. Citigroup decreased their price target on shares of Brighthouse Financial from $36.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, September 13th. Finally, Bank of America cut their price target on shares of Brighthouse Financial from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. Brighthouse Financial presently has an average rating of “Hold” and a consensus target price of $37.56.
In other news, Director Margaret M. Mccarthy acquired 2,941 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average price of $34.08 per share, for a total transaction of $100,229.28. Following the acquisition, the director now owns 4,423 shares of the company’s stock, valued at approximately $150,735.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric T. Steigerwalt bought 12,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $34.04 per share, with a total value of $425,500.00. Following the completion of the purchase, the insider now directly owns 111,239 shares in the company, valued at $3,786,575.56. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 31,441 shares of company stock worth $1,091,409. Insiders own 0.23% of the company’s stock.
Brighthouse Financial Company Profile
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.
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