35,600 Shares in Brighthouse Financial, Inc. $BHF Purchased by P Schoenfeld Asset Management LP

P Schoenfeld Asset Management LP acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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 position. P Schoenfeld Asset Management LP owned about 0.06% of Brighthouse Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Athos Capital Ltd purchased a new stake in shares of Brighthouse Financial during the second quarter valued at approximately $6,330,000. DLD Asset Management LP bought a new stake in shares of Brighthouse Financial during the second quarter valued at approximately $2,244,000. Pinnacle Holdings LLC purchased a new position in Brighthouse Financial in the 2nd quarter worth approximately $2,755,000. Bank of Nova Scotia purchased a new position in Brighthouse Financial in the 2nd quarter worth approximately $3,355,000. Finally, Kendall Capital Management bought a new position in Brighthouse Financial in the 2nd quarter valued at approximately $1,059,000. 81.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BHF has been the topic of several recent analyst reports. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brighthouse Financial in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $60.50.

Brighthouse Financial Price Performance

BHF opened at $52.27 on Monday. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 4.17 and a beta of 0.87. The firm has a 50 day moving average price of $62.27 and a 200-day moving average price of $61.91. Brighthouse Financial, Inc. has a twelve month low of $42.07 and a twelve month high of $66.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

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 the consensus estimate of $4.86 by ($0.41). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the business posted $3.43 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current year.

Brighthouse Financial Company 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.