Gabelli Funds LLC Takes $1.33 Million Position in Brighthouse Financial, Inc. $BHF

Gabelli Funds LLC purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,014 shares of the company’s stock, valued at approximately $1,328,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BHF. Dimensional Fund Advisors LP lifted its position in Brighthouse Financial by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,449,923 shares of the company’s stock valued at $183,131,000 after buying an additional 42,652 shares during the last quarter. American Century Companies Inc. increased its position in shares of Brighthouse Financial by 10.4% during the third quarter. American Century Companies Inc. now owns 2,210,276 shares of the company’s stock valued at $117,321,000 after acquiring an additional 208,630 shares during the last quarter. Norges Bank acquired a new stake in shares of Brighthouse Financial during the second quarter valued at about $41,182,000. Soros Fund Management LLC raised its stake in shares of Brighthouse Financial by 47.9% in the 2nd quarter. Soros Fund Management LLC now owns 764,750 shares of the company’s stock valued at $41,121,000 after acquiring an additional 247,846 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Brighthouse Financial by 2,224.3% in the 2nd quarter. First Trust Advisors LP now owns 514,080 shares of the company’s stock valued at $27,642,000 after acquiring an additional 491,962 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BHF. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 17th. Raymond James Financial restated a “market perform” rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Barclays lowered Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price target for the company. in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brighthouse Financial in a research note on Monday, December 29th. Eight equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $63.67.

Brighthouse Financial Trading Down 0.1%

NASDAQ BHF opened at $60.23 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 10.38 and a beta of 0.96. The firm has a 50 day simple moving average of $63.22 and a 200-day simple moving average of $58.56. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.33.

Brighthouse Financial Profile

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.