Hsbc Holdings PLC Invests $54.90 Million in Brighthouse Financial, Inc. $BHF

Hsbc Holdings PLC purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 865,171 shares of the company’s stock, valued at approximately $54,895,000. Hsbc Holdings PLC owned about 1.50% of Brighthouse Financial as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in Brighthouse Financial by 156.2% in the first quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock worth $15,245,000 after acquiring an additional 160,272 shares during the period. Jones Financial Companies Lllp grew its position in shares of Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after acquiring an additional 735 shares during the period. United Services Automobile Association bought a new position in shares of Brighthouse Financial during the 1st quarter valued at approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Brighthouse Financial by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company’s stock worth $12,128,000 after purchasing an additional 13,245 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Brighthouse Financial by 12.5% during the 2nd quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock worth $350,000 after purchasing an additional 725 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Analysts Set New Price Targets

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

Brighthouse Financial Trading Up 1.2%

Shares of BHF stock opened at $52.49 on Thursday. The stock has a market capitalization of $3.02 billion, a PE ratio of 4.19 and a beta of 0.87. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average of $61.60 and a 200 day moving average of $61.66.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Wednesday, August 5th. The company reported $4.45 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 firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm earned $3.43 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current year.

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.