Brighthouse Financial (BHF) Shares Down 5.4%

Shares of Brighthouse Financial Inc (NASDAQ:BHF) fell 5.4% during trading on Thursday . The company traded as low as $41.29 and last traded at $41.70. 1,161,081 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 1,124,794 shares. The stock had previously closed at $44.06.

A number of research firms have commented on BHF. BidaskClub raised Brighthouse Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 6th. Bank of America reissued a “neutral” rating and issued a $47.00 target price on shares of Brighthouse Financial in a report on Wednesday, October 3rd. ValuEngine raised Brighthouse Financial from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Credit Suisse Group raised Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a report on Wednesday, August 15th. They noted that the move was a valuation call. Finally, Barclays lowered Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a report on Friday, August 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Brighthouse Financial currently has an average rating of “Hold” and an average price target of $56.87.

The company has a market capitalization of $5.30 billion, a PE ratio of 6.86 and a beta of 1.96. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.27.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Monday, August 6th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.96 by ($0.69). The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Brighthouse Financial had a positive return on equity of 5.58% and a negative net margin of 7.88%. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts forecast that Brighthouse Financial Inc will post 8.23 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in shares of Brighthouse Financial by 8.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 23,787 shares of the company’s stock worth $952,000 after buying an additional 1,865 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Brighthouse Financial by 21.3% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 15,096 shares of the company’s stock worth $605,000 after buying an additional 2,652 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Brighthouse Financial in the 3rd quarter worth $142,000. Verition Fund Management LLC boosted its stake in shares of Brighthouse Financial by 61.4% in the 2nd quarter. Verition Fund Management LLC now owns 8,736 shares of the company’s stock worth $350,000 after buying an additional 3,325 shares during the last quarter. Finally, Hexavest Inc. purchased a new position in shares of Brighthouse Financial in the 2nd quarter worth $158,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

About Brighthouse Financial (NASDAQ:BHF)

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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