Pinnacle Holdings LLC Buys Shares of 43,518 Brighthouse Financial, Inc. $BHF

Pinnacle Holdings LLC purchased a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF) during the second quarter, according to its most recent filing with the SEC. The firm purchased 43,518 shares of the company’s stock, valued at approximately $2,755,000. Pinnacle Holdings LLC owned 0.08% of Brighthouse Financial at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Brighthouse Financial in the second quarter valued at about $27,000. NewEdge Advisors LLC lifted its position 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 buying an additional 354 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Brighthouse Financial by 390.3% in the 1st quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after buying an additional 226 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of Brighthouse Financial in the 3rd quarter valued at about $37,000. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

Shares of BHF opened at $52.27 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day moving average price is $62.27 and its 200-day moving average price is $61.91. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.80. The firm has a market capitalization of $3.01 billion, a PE ratio of 4.17 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $3.43 EPS. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 18.83 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brighthouse Financial in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average 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.