Utah Retirement Systems acquired a new position in shares of Brighthouse Financial Inc (NASDAQ:BHF) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,274 shares of the company’s stock, valued at approximately $986,000.
Other institutional investors have also bought and sold shares of the company. First Hawaiian Bank acquired a new position in shares of Brighthouse Financial during the 3rd quarter worth about $142,000. Daiwa Securities Group Inc. acquired a new stake in Brighthouse Financial in the 3rd quarter valued at about $164,000. AGF Investments America Inc. acquired a new stake in Brighthouse Financial in the 3rd quarter valued at about $164,000. Whittier Trust Co. acquired a new stake in Brighthouse Financial in the 3rd quarter valued at about $176,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Brighthouse Financial in the 3rd quarter valued at about $201,000. Institutional investors own 90.58% of the company’s stock.
Several brokerages recently issued reports on BHF. BidaskClub upgraded shares of Brighthouse Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. ValuEngine upgraded shares of Brighthouse Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Bank of America lowered their price target on shares of Brighthouse Financial from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, November 6th. Barclays cut shares of Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a report on Friday, August 10th. Finally, Morgan Stanley lowered their price target on shares of Brighthouse Financial from $58.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 6th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $56.07.
Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Monday, November 5th. The company reported $2.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.04. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Brighthouse Financial had a net margin of 1.33% and a return on equity of 5.49%. During the same period in the prior year, the firm earned $3.31 EPS. As a group, equities analysts forecast that Brighthouse Financial Inc will post 8.04 earnings per share for the current fiscal year.
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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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