Quinn Opportunity Partners LLC lessened its position in Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) by 3.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 113,568 shares of the company's stock after selling 4,000 shares during the period. Quinn Opportunity Partners LLC's holdings in Brighthouse Financial were worth $5,867,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Raymond James & Associates acquired a new position in Brighthouse Financial during the fourth quarter worth approximately $229,000. Raymond James Financial Services Advisors Inc. acquired a new position in Brighthouse Financial during the fourth quarter worth approximately $1,622,000. BNP Paribas Arbitrage SA increased its position in Brighthouse Financial by 232.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 79,264 shares of the company's stock worth $4,106,000 after purchasing an additional 55,410 shares during the last quarter. Teacher Retirement System of Texas increased its position in Brighthouse Financial by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 16,100 shares of the company's stock worth $834,000 after purchasing an additional 2,506 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Brighthouse Financial during the fourth quarter worth approximately $1,789,000. Institutional investors and hedge funds own 81.38% of the company's stock.
Get Brighthouse Financial alerts:Brighthouse Financial Stock Down 2.0 %
Shares of BHF stock traded down $1.04 on Tuesday, hitting $49.92. The stock had a trading volume of 11,116 shares, compared to its average volume of 409,969. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 2.00 and a beta of 1.30. The stock's 50 day moving average is $45.34 and its 200-day moving average is $47.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.57 and a current ratio of 0.57. Brighthouse Financial, Inc. has a 52-week low of $38.38 and a 52-week high of $62.33.
Brighthouse Financial (NASDAQ:BHF – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.46. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2 billion. Brighthouse Financial had a net margin of 18.70% and a return on equity of 11.46%. The firm's revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.32 EPS. As a group, research analysts expect that Brighthouse Financial, Inc. will post 11.58 earnings per share for the current year.Analysts Set New Price Targets
Several brokerages recently commented on BHF. Piper Sandler dropped their price target on shares of Brighthouse Financial from $50.00 to $43.00 and set a "neutral" rating for the company in a research report on Friday, July 8th. Morgan Stanley upped their price target on shares of Brighthouse Financial from $54.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 17th. JPMorgan Chase & Co. decreased their price objective on shares of Brighthouse Financial from $59.00 to $50.00 in a research note on Monday, July 11th. TheStreet upgraded shares of Brighthouse Financial from a "c" rating to a "b-" rating in a research note on Monday, August 15th. Finally, Barclays boosted their price objective on shares of Brighthouse Financial from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, August 8th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $55.10.
About Brighthouse Financial
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Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment 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.
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