Yakira Capital Management Inc. Invests $3.23 Million in Brighthouse Financial, Inc. $BHF

Yakira Capital Management Inc. bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 49,769 shares of the company’s stock, valued at approximately $3,225,000. Yakira Capital Management Inc. owned approximately 0.09% of Brighthouse Financial as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BHF. Millennium Management LLC boosted its stake in Brighthouse Financial by 156.2% during the first quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock worth $15,245,000 after acquiring an additional 160,272 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after acquiring an additional 735 shares in the last quarter. United Services Automobile Association bought a new position in Brighthouse Financial during the first quarter worth $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Brighthouse Financial by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company’s stock worth $12,128,000 after acquiring an additional 13,245 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Brighthouse Financial by 12.5% during the second quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock worth $350,000 after acquiring an additional 725 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

Brighthouse Financial stock opened at $63.03 on Monday. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.33. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -21.15 and a beta of 0.86. The firm’s fifty day moving average price is $61.96 and its two-hundred day moving average price is $62.81. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.20 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The firm’s quarterly revenue was down 29.4% on a year-over-year basis. During the same period last year, the business posted $4.17 earnings per share. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 19.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BHF has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 target price on shares of Brighthouse Financial in a research note on Thursday, March 26th. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Argus raised shares of Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings lowered shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Eight research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $60.86.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.