State of Wisconsin Investment Board bought a new stake in shares of Brighthouse Financial (NASDAQ:BHF) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 130,586 shares of the company’s stock, valued at approximately $6,712,000.
Several other institutional investors have also recently modified their holdings of BHF. Elkfork Partners LLC acquired a new position in shares of Brighthouse Financial in the fourth quarter worth about $310,000. Dreman Value Management L L C acquired a new position in shares of Brighthouse Financial in the first quarter worth about $167,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Brighthouse Financial in the first quarter worth about $189,335,000. Wells Fargo & Company MN acquired a new position in shares of Brighthouse Financial in the first quarter worth about $8,191,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Brighthouse Financial in the first quarter worth about $131,000. Institutional investors and hedge funds own 86.77% of the company’s stock.
Several research analysts recently weighed in on the stock. Wells Fargo & Co set a $64.00 price target on shares of Brighthouse Financial and gave the stock a “hold” rating in a research report on Monday, February 12th. Zacks Investment Research downgraded shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. Citigroup restated a “sell” rating on shares of Brighthouse Financial in a research report on Thursday, February 22nd. BidaskClub downgraded shares of Brighthouse Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 11th. Finally, Credit Suisse Group assumed coverage on shares of Brighthouse Financial in a research report on Wednesday, April 25th. They set an “underperform” rating and a $44.00 price target for the company. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. Brighthouse Financial currently has a consensus rating of “Hold” and a consensus price target of $63.44.
Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Monday, May 7th. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.33. Brighthouse Financial had a negative net margin of 1.25% and a positive return on equity of 5.93%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.07 billion. equities analysts forecast that Brighthouse Financial will post 8.56 EPS for the current fiscal year.
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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