Fifth Third Bancorp Increases Stock Holdings in Brighthouse Financial, Inc. $BHF

Fifth Third Bancorp boosted its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 1,537.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,133 shares of the company’s stock after acquiring an additional 13,270 shares during the quarter. Fifth Third Bancorp’s holdings in Brighthouse Financial were worth $846,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Credit Industriel ET Commercial purchased a new stake in shares of Brighthouse Financial during the fourth quarter worth about $10,055,000. Wolverine Asset Management LLC acquired a new position in shares of Brighthouse Financial during the 4th quarter worth about $2,896,000. M&T Bank Corp purchased a new position in Brighthouse Financial in the 4th quarter valued at about $1,549,000. Hsbc Holdings PLC lifted its stake in Brighthouse Financial by 63.3% in the 1st quarter. Hsbc Holdings PLC now owns 542,749 shares of the company’s stock valued at $32,673,000 after buying an additional 210,387 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Brighthouse Financial by 33.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 49,441 shares of the company’s stock worth $3,203,000 after buying an additional 12,486 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock opened at $63.22 on Monday. The stock has a 50 day moving average of $63.53 and a 200 day moving average of $62.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -21.21 and a beta of 0.86. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.57 by ($0.22). The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.20 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The business’s revenue for the quarter was down 29.4% on a year-over-year basis. During the same period last year, the company earned $4.17 EPS. As a group, research analysts predict that Brighthouse Financial, Inc. will post 19.2 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings cut Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $60.50.

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.