Texas Permanent School Fund trimmed its holdings in Brighthouse Financial Inc (NASDAQ:BHF) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,890 shares of the company’s stock after selling 2,338 shares during the quarter. Texas Permanent School Fund’s holdings in Brighthouse Financial were worth $1,190,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. First Hawaiian Bank bought a new position in Brighthouse Financial in the 3rd quarter worth approximately $142,000. Hexavest Inc. bought a new position in shares of Brighthouse Financial during the 2nd quarter valued at approximately $158,000. Raymond James Trust N.A. bought a new position in shares of Brighthouse Financial during the 3rd quarter valued at approximately $216,000. IFM Investors Pty Ltd bought a new position in shares of Brighthouse Financial during the 3rd quarter valued at approximately $274,000. Finally, Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of Brighthouse Financial during the 3rd quarter valued at approximately $292,000. Institutional investors and hedge funds own 87.32% of the company’s stock.
A number of research firms have recently commented on BHF. B. Riley lowered their target price on Brighthouse Financial from $59.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 16th. BidaskClub upgraded Brighthouse Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co set a $50.00 target price on Brighthouse Financial and gave the company a “hold” rating in a research report on Monday, November 5th. ValuEngine upgraded Brighthouse Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, August 17th. Finally, Bank of America reiterated a “neutral” rating and set a $47.00 target price on shares of Brighthouse Financial in a research report 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. Brighthouse Financial has a consensus rating of “Hold” and an average 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. Brighthouse Financial had a return on equity of 5.49% and a net margin of 1.33%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the firm posted $3.31 EPS. Sell-side analysts forecast that Brighthouse Financial Inc will post 8.17 EPS for the current 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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