PNC Financial Services Group Inc. raised its holdings in shares of Brighthouse Financial Inc (NASDAQ:BHF) by 356.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 72,193 shares of the company’s stock after acquiring an additional 56,387 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Brighthouse Financial were worth $2,620,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its position in Brighthouse Financial by 387.3% during the first quarter. Signaturefd LLC now owns 731 shares of the company’s stock valued at $27,000 after buying an additional 581 shares in the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in Brighthouse Financial during the fourth quarter valued at approximately $32,000. Bessemer Group Inc. lifted its position in Brighthouse Financial by 68.3% during the fourth quarter. Bessemer Group Inc. now owns 865 shares of the company’s stock valued at $27,000 after buying an additional 351 shares in the last quarter. Pearl River Capital LLC acquired a new position in Brighthouse Financial during the fourth quarter valued at approximately $26,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Brighthouse Financial by 162.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 954 shares of the company’s stock valued at $29,000 after buying an additional 591 shares in the last quarter. 88.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:BHF opened at $38.42 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $4.54 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.38 and a beta of 2.16. Brighthouse Financial Inc has a 12-month low of $28.52 and a 12-month high of $47.90.
Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Monday, May 6th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.14). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. Brighthouse Financial had a return on equity of 6.01% and a net margin of 2.49%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.36 EPS. Equities research analysts predict that Brighthouse Financial Inc will post 8.96 earnings per share for the current year.
A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Brighthouse Financial from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. BidaskClub lowered shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. TheStreet upgraded shares of Brighthouse Financial from a “d+” rating to a “c-” rating in a research note on Thursday, April 25th. Zacks Investment Research lowered shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Citigroup set a $36.00 price objective on shares of Brighthouse Financial and gave the company a “sell” rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.27.
In related news, Director C Edward Chaplin purchased 2,700 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $36.50 per share, for a total transaction of $98,550.00. Following the completion of the purchase, the director now owns 6,939 shares in the company, valued at $253,273.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.01% of the stock is currently owned by insiders.
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Brighthouse Financial Profile
Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment 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.
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