42,263 Shares in Brighthouse Financial Inc (BHF) Acquired by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC purchased a new stake in Brighthouse Financial Inc (NASDAQ:BHF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 42,263 shares of the company’s stock, valued at approximately $1,693,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BHF. Stratos Wealth Partners LTD. bought a new stake in Brighthouse Financial in the 1st quarter valued at $105,000. Municipal Employees Retirement System of Michigan bought a new stake in Brighthouse Financial in the 1st quarter valued at $127,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new stake in Brighthouse Financial in the 1st quarter valued at $145,000. Hexavest Inc. bought a new stake in Brighthouse Financial in the 2nd quarter valued at $158,000. Finally, Envestnet Asset Management Inc. bought a new stake in Brighthouse Financial in the 1st quarter valued at $173,000. Institutional investors and hedge funds own 87.42% of the company’s stock.
Several analysts recently issued reports on the company. Citigroup restated a “neutral” rating on shares of Brighthouse Financial in a research note on Thursday, June 28th. Credit Suisse Group reduced their price target on Brighthouse Financial from $44.00 to $40.50 and set an “underperform” rating for the company in a research note on Wednesday, June 13th. Wells Fargo & Co reduced their price target on Brighthouse Financial from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, June 19th. They noted that the move was a valuation call. Evercore ISI upgraded Brighthouse Financial from an “in-line” rating to an “outperform” rating and set a $68.00 price target for the company in a research note on Friday, June 29th. Finally, Barclays reduced their price target on Brighthouse Financial from $72.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.57.
Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Monday, August 6th. The company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.96 by ($0.69). The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.05 billion. Brighthouse Financial had a negative net margin of 7.88% and a positive return on equity of 5.58%. The firm’s revenue was down .7% on a year-over-year basis. equities research analysts forecast that Brighthouse Financial Inc will post 8.23 EPS for the current fiscal year.
Brighthouse Financial 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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