Assenagon Asset Management S.A. Makes New $10.51 Million Investment in Brighthouse Financial, Inc. $BHF

Assenagon Asset Management S.A. purchased a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 162,145 shares of the company’s stock, valued at approximately $10,505,000. Assenagon Asset Management S.A. owned approximately 0.28% of Brighthouse Financial at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BHF. Smartleaf Asset Management LLC boosted its holdings in Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after buying an additional 226 shares during the period. Clearstead Advisors LLC boosted its stake in shares of Brighthouse Financial by 540.4% in the third quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock worth $34,000 after acquiring an additional 535 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Brighthouse Financial by 225.5% in the third quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock worth $35,000 after acquiring an additional 460 shares during the period. Danske Bank A S purchased a new stake in shares of Brighthouse Financial during the third quarter worth about $37,000. Finally, Jones Financial Companies Lllp raised its stake in Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after purchasing an additional 735 shares during the period. 81.24% of the stock is currently owned by institutional investors.

Brighthouse Financial Price Performance

BHF opened at $59.98 on Friday. The business’s 50-day moving average is $62.14 and its two-hundred day moving average is $59.66. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year 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. The firm has a market capitalization of $3.43 billion, a PE ratio of 10.34 and a beta of 0.96.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $67.00 price target on shares of Brighthouse Financial in a report on Thursday. Barclays downgraded shares of 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 shares of 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 report on Monday, December 29th. Eight research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $60.86.

About Brighthouse Financial

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.