American Assets Investment Management LLC acquired a new position in Brighthouse Financial Inc (NASDAQ:BHF) during the 3rd quarter, Holdings Channel reports. The fund acquired 5,845 shares of the company’s stock, valued at approximately $258,000.
Several other institutional investors have also modified their holdings of BHF. First Hawaiian Bank bought a new stake in shares of Brighthouse Financial in the third quarter worth $142,000. Hexavest Inc. bought a new stake in shares of Brighthouse Financial in the second quarter worth $158,000. Raymond James Trust N.A. bought a new stake in shares of Brighthouse Financial in the third quarter worth $216,000. Blair William & Co. IL bought a new stake in shares of Brighthouse Financial in the first quarter worth $220,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Brighthouse Financial in the third quarter worth $251,000. 87.44% of the stock is currently owned by institutional investors.
BHF traded down $0.92 during trading on Monday, reaching $41.06. 1,489,934 shares of the stock traded hands, compared to its average volume of 1,291,899. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.03 billion, a P/E ratio of 6.51, a price-to-earnings-growth ratio of 0.31 and a beta of 1.96. Brighthouse Financial Inc has a 12 month low of $39.24 and a 12 month high of $67.55.
Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Monday, August 6th. The company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.96 by ($0.69). The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.05 billion. Brighthouse Financial had a negative net margin of 7.88% and a positive return on equity of 5.58%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts predict that Brighthouse Financial Inc will post 8.19 EPS for the current fiscal year.
BHF has been the topic of several analyst reports. ValuEngine cut shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Barclays cut shares of Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research note on Friday, August 10th. Credit Suisse Group raised shares of Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 15th. They noted that the move was a valuation call. BidaskClub raised shares of Brighthouse Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. Finally, Bank of America reissued a “neutral” rating and issued a $47.00 price objective on shares of Brighthouse Financial in a research note on Wednesday, October 3rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $56.43.
Brighthouse Financial Company Profile
Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It 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; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.
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