VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Brighthouse Financial, Inc. $BHF

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,500 shares of the company’s stock, valued at approximately $1,425,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its position in Brighthouse Financial by 0.4% during the first quarter. LPL Financial LLC now owns 39,718 shares of the company’s stock valued at $2,303,000 after purchasing an additional 173 shares during the period. PNC Financial Services Group Inc. lifted its position in Brighthouse Financial by 5.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,598 shares of the company’s stock valued at $209,000 after purchasing an additional 181 shares during the period. GAMMA Investing LLC lifted its position in Brighthouse Financial by 11.0% during the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company’s stock valued at $118,000 after purchasing an additional 202 shares during the period. Parallel Advisors LLC raised its position in Brighthouse Financial by 19.4% in the second quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $73,000 after acquiring an additional 222 shares during the period. Finally, Brooklyn Investment Group raised its position in Brighthouse Financial by 42.0% in the first quarter. Brooklyn Investment Group now owns 764 shares of the company’s stock worth $44,000 after acquiring an additional 226 shares during the period. Institutional investors own 81.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Evercore ISI decreased 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 report on Thursday, October 9th. Barclays decreased their price target on shares of Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Piper Sandler reiterated a “neutral” rating and issued a $53.00 price target on shares of Brighthouse Financial in a research report on Tuesday, October 7th. Wells Fargo & Company increased their price target on shares of Brighthouse Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brighthouse Financial in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.30.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF opened at $46.57 on Thursday. The firm has a fifty day moving average price of $48.55 and a 200-day moving average price of $51.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $2.66 billion, a PE ratio of 5.04 and a beta of 0.86. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $64.12.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($1.27). The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a return on equity of 21.06% and a net margin of 10.24%.The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company earned $5.57 earnings per share. Equities analysts anticipate that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Brighthouse Financial Company Profile

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.