40,000 Shares in Brighthouse Financial, Inc. $BHF Purchased by Vestcor Inc

Vestcor Inc purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) in the fourth quarter, Holdings Channel reports. The fund purchased 40,000 shares of the company’s stock, valued at approximately $2,592,000.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after purchasing an additional 226 shares during the period. Clearstead Advisors LLC raised its holdings in Brighthouse Financial by 540.4% in the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock worth $34,000 after purchasing an additional 535 shares during the period. Hantz Financial Services Inc. raised its holdings in Brighthouse Financial by 225.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock worth $35,000 after purchasing an additional 460 shares during the period. Danske Bank A S acquired a new position in Brighthouse Financial in the 3rd quarter worth about $37,000. Finally, Torren Management LLC acquired a new position in Brighthouse Financial in the 4th quarter worth about $50,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

BHF stock opened at $62.65 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $61.67 and a 200-day simple moving average of $62.90. The firm has a market capitalization of $3.60 billion, a PE ratio of -21.02 and a beta of 0.86. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $66.33.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. Brighthouse Financial’s revenue for the quarter was down 29.4% on a year-over-year basis. During the same quarter last year, the company earned $4.17 earnings per share. Equities research analysts anticipate that Brighthouse Financial, Inc. will post 19.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BHF has been the subject of a number of analyst reports. Weiss Ratings cut Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Argus raised Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 target price on shares of Brighthouse Financial in a report on Thursday, March 26th. Finally, Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $60.86.

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.