Hsbc Holdings PLC Raises Stock Holdings in Brighthouse Financial, Inc. $BHF

Hsbc Holdings PLC increased its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 63.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 542,749 shares of the company’s stock after buying an additional 210,387 shares during the quarter. Hsbc Holdings PLC’s holdings in Brighthouse Financial were worth $32,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BHF. NewEdge Advisors LLC raised its stake in Brighthouse Financial by 442.5% in the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after acquiring an additional 354 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Brighthouse Financial by 66.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after purchasing an additional 226 shares during the last quarter. Danske Bank A S purchased a new stake in Brighthouse Financial during the 3rd quarter valued at about $37,000. Torren Management LLC acquired a new position in shares of Brighthouse Financial in the fourth quarter valued at about $50,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Brighthouse Financial by 835.2% in the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after purchasing an additional 735 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BHF has been the subject of a number of research reports. Argus raised Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $67.00 price target on shares of Brighthouse Financial in a report on Thursday, March 26th. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Eight analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Brighthouse Financial presently has an average rating of “Reduce” and an average target price of $60.50.

Brighthouse Financial Stock Performance

Shares of BHF stock opened at $64.91 on Tuesday. The stock has a market cap of $3.73 billion, a PE ratio of -21.78 and a beta of 0.86. The business has a 50-day simple moving average of $63.40 and a 200-day simple moving average of $62.63. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. Brighthouse Financial, Inc. has a 52-week low of $42.07 and a 52-week high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Wednesday, May 6th. The company reported $4.35 EPS for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The firm’s quarterly revenue was down 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.17 EPS. On average, equities analysts expect that Brighthouse Financial, Inc. will post 19.41 EPS for the current year.

About Brighthouse Financial

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.