Arrowstreet Capital Limited Partnership Cuts Stake in Brighthouse Financial, Inc. $BHF

Arrowstreet Capital Limited Partnership reduced its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 26.1% during the first quarter, Holdings Channel reports. The institutional investor owned 169,177 shares of the company’s stock after selling 59,665 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Brighthouse Financial were worth $10,130,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BHF. NewEdge Advisors LLC raised its stake in shares of Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after acquiring an additional 354 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Brighthouse Financial by 390.3% in the first quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 period. Danske Bank A S purchased a new position in Brighthouse Financial during the 3rd quarter valued at about $37,000. Finally, Torren Management LLC bought a new position in Brighthouse Financial during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Trading Down 2.4%

Shares of NASDAQ:BHF opened at $61.91 on Friday. The stock’s 50-day simple moving average is $63.58 and its two-hundred day simple moving average is $62.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -20.78 and a beta of 0.86. Brighthouse Financial, Inc. has a 52-week low of $42.07 and a 52-week high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last announced 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). Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company posted $4.17 earnings per share. The firm’s quarterly revenue was down 29.4% on a year-over-year basis. Analysts expect that Brighthouse Financial, Inc. will post 19.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BHF. Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Finally, Weiss Ratings cut shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Brighthouse Financial currently has a consensus rating of “Reduce” and an average price target of $60.50.

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.