Point72 Hong Kong Ltd Takes $259,000 Position in Brighthouse Financial Inc (NASDAQ:BHF)

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.



Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Monday, August 5th. The company reported $2.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.33. Brighthouse Financial had a return on equity of 6.74% and a net margin of 9.61%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. As a group, sell-side analysts expect that Brighthouse Financial Inc will post 8.67 EPS for the current fiscal year.

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.

Further Reading: Street Name

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

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