Healthcare of Ontario Pension Plan Trust Fund Invests $25.32 Million in Brighthouse Financial, Inc. $BHF

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 390,807 shares of the company’s stock, valued at approximately $25,320,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citigroup Inc. raised its stake in shares of Brighthouse Financial by 360.5% during the 3rd quarter. Citigroup Inc. now owns 151,891 shares of the company’s stock worth $8,062,000 after buying an additional 118,909 shares during the last quarter. Gabelli Funds LLC acquired a new position in Brighthouse Financial in the 3rd quarter valued at about $1,328,000. American Century Companies Inc. raised its stake in Brighthouse Financial by 10.4% in the 3rd quarter. American Century Companies Inc. now owns 2,210,276 shares of the company’s stock valued at $117,321,000 after purchasing an additional 208,630 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Brighthouse Financial in the 4th quarter valued at about $10,505,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Brighthouse Financial in the 3rd quarter valued at about $1,319,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Trading Down 0.2%

Shares of BHF stock opened at $62.93 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -21.12 and a beta of 0.86. The firm has a 50-day moving average price of $62.02 and a 200 day moving average price of $62.79. Brighthouse Financial, Inc. has a twelve month low of $42.07 and a twelve month high of $66.33.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.57 by ($0.22). The business 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%. The firm’s quarterly revenue was down 29.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.17 EPS. Research analysts forecast that Brighthouse Financial, Inc. will post 19.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BHF. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $67.00 target price on shares of Brighthouse Financial in a research note on Thursday, March 26th. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Argus raised shares of Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Eight equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock 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.