Arrowstreet Capital Limited Partnership Sells 59,665 Shares of Brighthouse Financial, Inc. $BHF

Arrowstreet Capital Limited Partnership reduced its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 26.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,177 shares of the company’s stock after selling 59,665 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.29% of Brighthouse Financial worth $10,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BHF. HBK Investments L P bought a new stake in Brighthouse Financial during the fourth quarter worth $136,059,000. Glazer Capital LLC bought a new position in Brighthouse Financial during the 4th quarter valued at $113,252,000. UBS Group AG boosted its holdings in Brighthouse Financial by 98.1% during the 3rd quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock worth $181,177,000 after acquiring an additional 1,690,064 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Brighthouse Financial by 190.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company’s stock worth $74,113,000 after acquiring an additional 915,902 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Brighthouse Financial by 149.5% in the 4th quarter. Morgan Stanley now owns 1,264,992 shares of the company’s stock worth $81,959,000 after acquiring an additional 758,010 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BHF shares. Weiss Ratings lowered shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Eight analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $60.50.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $61.91 on Friday. The firm has a market capitalization of $3.56 billion, a PE ratio of -20.78 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $63.58 and a two-hundred day moving average price of $62.54. Brighthouse Financial, Inc. has a twelve month low of $42.07 and a twelve month high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $4.17 earnings per share. Equities analysts forecast that Brighthouse Financial, Inc. will post 19.2 EPS 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.