Bayforest Capital Ltd Invests $667,000 in Brighthouse Financial, Inc. $BHF

Bayforest Capital Ltd purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,561 shares of the company’s stock, valued at approximately $667,000.

Other hedge funds have also bought and sold shares of the company. Counterpoint Mutual Funds LLC bought a new stake in shares of Brighthouse Financial in the 2nd quarter valued at approximately $406,000. Kawa Capital Management Inc acquired a new position in Brighthouse Financial in the second quarter worth $8,066,000. Strs Ohio increased its stake in Brighthouse Financial by 23.6% during the second quarter. Strs Ohio now owns 38,067 shares of the company’s stock valued at $2,047,000 after purchasing an additional 7,268 shares during the last quarter. Alpine Associates Management Inc. bought a new stake in Brighthouse Financial during the second quarter valued at $5,225,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Brighthouse Financial during the second quarter worth $801,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on BHF shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brighthouse Financial in a report on Monday, December 29th. Barclays lowered Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price for the company. in a report on Thursday. Evercore ISI cut their price target on Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Piper Sandler restated a “neutral” rating and set a $53.00 price objective on shares of Brighthouse Financial in a research report on Tuesday, October 7th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Brighthouse Financial in a research report on Wednesday, November 12th. Nine equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $63.70.

Brighthouse Financial Stock Performance

Shares of BHF stock opened at $64.70 on Friday. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month high of $66.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 4.41 and a beta of 0.97. The business has a 50 day simple moving average of $64.56 and a 200 day simple moving average of $54.42.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Friday, November 7th. The company reported $4.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.09 by ($0.55). The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.26 billion. Brighthouse Financial had a return on equity of 20.59% and a net margin of 15.39%.The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.99 EPS. On average, equities research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 EPS for the current 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.