P Schoenfeld Asset Management LP Purchases Shares of 35,600 Brighthouse Financial, Inc. $BHF

P Schoenfeld Asset Management LP purchased a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 35,600 shares of the company’s stock, valued at approximately $2,253,480,000. Brighthouse Financial comprises about 0.9% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors have also recently made changes to their positions in BHF. Northwestern Mutual Wealth Management Co. bought a new stake in Brighthouse Financial during the second quarter valued at approximately $27,000. NewEdge Advisors LLC increased its holdings in 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. raised its position in Brighthouse Financial by 390.3% in the first quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock worth $30,000 after acquiring an additional 402 shares during the period. Smartleaf Asset Management LLC raised its position in Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after acquiring an additional 226 shares during the period. Finally, Danske Bank A S purchased a new position in shares of Brighthouse Financial during the 3rd quarter worth $37,000. Institutional investors own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BHF shares. Wall Street Zen raised shares of Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brighthouse Financial in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $60.50.

Brighthouse Financial Stock Performance

BHF opened at $52.27 on Monday. The company has a 50 day simple moving average of $62.27 and a two-hundred day simple moving average of $61.91. 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 firm has a market cap of $3.01 billion, a P/E ratio of 4.17 and a beta of 0.87. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing the consensus estimate of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the business earned $3.43 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts forecast that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current fiscal year.

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.