Oak Thistle LLC Acquires New Holdings in Brighthouse Financial, Inc. $BHF

Oak Thistle LLC bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the third quarter, HoldingsChannel reports. The firm bought 43,550 shares of the company’s stock, valued at approximately $2,312,000.

A number of other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. increased its position in shares of Brighthouse Financial by 8.9% during the second quarter. American Century Companies Inc. now owns 2,001,646 shares of the company’s stock worth $107,629,000 after acquiring an additional 163,626 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Brighthouse Financial by 41.0% in the 1st quarter. Royal Bank of Canada now owns 985,215 shares of the company’s stock valued at $57,134,000 after purchasing an additional 286,607 shares during the period. Norges Bank bought a new stake in shares of Brighthouse Financial in the second quarter valued at about $41,182,000. Soros Fund Management LLC boosted its position in shares of Brighthouse Financial by 47.9% during the second quarter. Soros Fund Management LLC now owns 764,750 shares of the company’s stock worth $41,121,000 after buying an additional 247,846 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Brighthouse Financial by 6.1% during the first quarter. Northern Trust Corp now owns 720,243 shares of the company’s stock worth $41,767,000 after buying an additional 41,323 shares during the period. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Shares of BHF opened at $65.28 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $58.38 and its 200 day simple moving average is $53.55. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.33. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 4.45 and a beta of 0.97.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Friday, November 7th. The company reported $4.54 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.55). Brighthouse Financial had a net margin of 15.39% and a return on equity of 20.59%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the business earned $3.99 EPS. The business’s revenue was down 10.0% compared to the same quarter last year. On average, research analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Zacks Research cut Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Brighthouse Financial in a research report on Monday. Keefe, Bruyette & Woods increased their target price on shares of Brighthouse Financial from $50.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Evercore ISI lowered their price target on shares of Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Finally, Piper Sandler restated a “neutral” rating and set a $53.00 price objective on shares of Brighthouse Financial in a research note on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Brighthouse Financial has a consensus rating of “Reduce” and an average price target of $63.70.

About Brighthouse Financial

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of 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.