AGF Investments Inc. bought a new position in shares of Brighthouse Financial Inc (NASDAQ:BHF) during the third quarter, HoldingsChannel.com reports. The firm bought 124,724 shares of the company’s stock, valued at approximately $5,518,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BHF. LPL Financial LLC bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $420,000. Millennium Management LLC bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $1,798,000. Principal Financial Group Inc. bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $6,897,000. Allianz Asset Management GmbH bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $847,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of Brighthouse Financial by 8.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 23,787 shares of the company’s stock worth $952,000 after acquiring an additional 1,865 shares in the last quarter. Institutional investors own 87.20% of the company’s stock.
BHF has been the subject of several research reports. Morgan Stanley reduced their price objective on Brighthouse Financial from $58.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 6th. BidaskClub raised Brighthouse Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Wells Fargo & Co set a $50.00 price objective on Brighthouse Financial and gave the stock a “hold” rating in a research note on Monday, November 5th. Credit Suisse Group raised Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 price objective for the company in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Finally, Bank of America reissued a “neutral” rating and set 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 issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.07.
Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Monday, November 5th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.04. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $2.05 billion. Brighthouse Financial had a return on equity of 5.49% and a net margin of 1.33%. During the same quarter in the prior year, the company earned $3.31 earnings per share. Sell-side analysts anticipate that Brighthouse Financial Inc will post 8.17 EPS for the current fiscal year.
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Brighthouse Financial 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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