State Board of Administration of Florida Retirement System reduced its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 140,723 shares of the company’s stock after selling 4,129 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Brighthouse Financial were worth $6,365,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Berman Capital Advisors LLC raised its position in Brighthouse Financial by 40.9% in the third quarter. Berman Capital Advisors LLC now owns 741 shares of the company’s stock worth $32,000 after acquiring an additional 215 shares in the last quarter. JJJ Advisors Inc. bought a new stake in Brighthouse Financial in the third quarter worth about $72,000. Alpha Paradigm Partners LLC bought a new stake in Brighthouse Financial in the second quarter worth about $86,000. Pinz Capital Management LP bought a new stake in Brighthouse Financial in the second quarter worth about $118,000. Finally, Carolina Wealth Advisors LLC raised its position in Brighthouse Financial by 21.0% in the third quarter. Carolina Wealth Advisors LLC now owns 3,586 shares of the company’s stock worth $162,000 after acquiring an additional 622 shares in the last quarter. Institutional investors and hedge funds own 81.07% of the company’s stock.
BHF has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Brighthouse Financial from $54.00 to $59.00 in a research report on Tuesday, January 4th. Morgan Stanley boosted their price objective on Brighthouse Financial from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, January 7th. Royal Bank of Canada boosted their price objective on Brighthouse Financial from $50.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, November 8th. Barclays upgraded Brighthouse Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $54.00 to $56.00 in a report on Monday, January 10th. Finally, The Goldman Sachs Group initiated coverage on Brighthouse Financial in a report on Thursday, December 2nd. They set a “neutral” rating and a $57.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.40.
Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, November 4th. The company reported $6.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $2.89. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Brighthouse Financial had a positive return on equity of 10.43% and a negative net margin of 22.88%. The firm’s quarterly revenue was up 712.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.19 EPS. As a group, research analysts expect that Brighthouse Financial, Inc. will post 19.63 EPS for the current year.
Brighthouse Financial Company Profile
Brighthouse Financial, Inc operates as a holding company, which engages in the provision of life insurance and annuities through independent distribution channels and marketing arrangements with diverse network of distribution partners. It operates through the following segments: Annuities; Life; Run-Off; and Corporate & Others.
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