P Schoenfeld Asset Management LP Invests $2.25 Million in Brighthouse Financial, Inc. $BHF

P Schoenfeld Asset Management LP bought a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,600 shares of the company’s stock, valued at approximately $2,253,480. Brighthouse Financial comprises approximately 0.0% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 20th largest holding. P Schoenfeld Asset Management LP owned 0.06% of Brighthouse Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP lifted its holdings in Brighthouse Financial by 34.7% in the 1st quarter. Quantinno Capital Management LP now owns 186,971 shares of the company’s stock valued at $11,196,000 after purchasing an additional 48,174 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Brighthouse Financial in the 2nd quarter valued at $341,422,000. Public Employees Retirement System of Ohio raised its position in Brighthouse Financial by 38.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company’s stock worth $3,679,000 after purchasing an additional 17,164 shares during the last quarter. Amundi increased its stake in Brighthouse Financial by 3,855.0% during the 1st quarter. Amundi now owns 123,276 shares of the company’s stock worth $7,382,000 after purchasing an additional 120,159 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Brighthouse Financial during the 1st quarter worth approximately $4,036,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Stock Performance

Shares of NASDAQ:BHF traded down $0.73 during trading on Friday, reaching $53.43. The stock had a trading volume of 534,010 shares, compared to its average volume of 690,330. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 4.26 and a beta of 0.87. 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, Inc. has a 52 week low of $42.07 and a 52 week high of $66.80. The stock has a fifty day simple moving average of $61.42 and a two-hundred day simple moving average of $61.60.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly 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 net margin of 12.49% and a return on equity of 17.24%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business earned $3.43 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts anticipate that Brighthouse Financial, Inc. will post 18.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BHF shares. Weiss Ratings raised shares of Brighthouse Financial from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen raised shares of Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $60.50.

Brighthouse Financial 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.