Cinctive Capital Management LP Sells 131,658 Shares of Brighthouse Financial, Inc. $BHF

Cinctive Capital Management LP lessened its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 65.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,178 shares of the company’s stock after selling 131,658 shares during the period. Cinctive Capital Management LP owned about 0.12% of Brighthouse Financial worth $3,619,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Clearline Capital LP acquired a new stake in shares of Brighthouse Financial in the third quarter valued at approximately $955,000. Bank of America Corp DE increased its stake in Brighthouse Financial by 55.1% during the 3rd quarter. Bank of America Corp DE now owns 500,649 shares of the company’s stock worth $26,574,000 after acquiring an additional 177,903 shares during the period. Boothbay Fund Management LLC bought a new position in Brighthouse Financial during the 3rd quarter worth $413,000. Algert Global LLC raised its holdings in Brighthouse Financial by 249.4% in the 3rd quarter. Algert Global LLC now owns 68,496 shares of the company’s stock valued at $3,636,000 after acquiring an additional 48,890 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Brighthouse Financial by 58.3% during the 3rd quarter. Alliancebernstein L.P. now owns 106,033 shares of the company’s stock valued at $5,628,000 after acquiring an additional 39,054 shares during the period. 81.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays lowered Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a report on Thursday, January 8th. Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brighthouse Financial in a research note on Monday, December 29th. Eight investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $63.67.

Brighthouse Financial Stock Down 0.2%

NASDAQ BHF opened at $60.23 on Monday. The business has a fifty day moving average price of $63.04 and a two-hundred day moving average price of $58.83. The stock has a market capitalization of $3.44 billion, a PE ratio of 10.38 and a beta of 0.96. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.95.

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.