State Board of Administration of Florida Retirement System acquired a new stake in shares of Brighthouse Financial Inc (NASDAQ:BHF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 114,604 shares of the company’s stock, valued at approximately $5,070,000. State Board of Administration of Florida Retirement System owned 0.10% of Brighthouse Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BHF. LPL Financial LLC acquired a new stake in shares of Brighthouse Financial during the 1st quarter worth about $420,000. Millennium Management LLC acquired a new stake in shares of Brighthouse Financial during the 1st quarter worth about $1,798,000. Principal Financial Group Inc. acquired a new stake in shares of Brighthouse Financial during the 1st quarter worth about $6,897,000. Allianz Asset Management GmbH acquired a new stake in shares of Brighthouse Financial during the 1st quarter worth about $847,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of Brighthouse Financial by 8.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 23,787 shares of the company’s stock worth $952,000 after purchasing an additional 1,865 shares during the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.

NASDAQ BHF traded down $1.35 during mid-day trading on Friday, hitting $34.47. The company’s stock had a trading volume of 2,092,736 shares, compared to its average volume of 1,129,346. Brighthouse Financial Inc has a 52-week low of $34.27 and a 52-week high of $67.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 5.75, a PEG ratio of 0.47 and a beta of 1.58.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Monday, November 5th. The company reported $2.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.04. Brighthouse Financial had a net margin of 1.33% and a return on equity of 5.49%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm posted $3.31 earnings per share. Sell-side analysts forecast that Brighthouse Financial Inc will post 8.04 EPS for the current fiscal year.

Several equities research analysts recently issued reports on BHF shares. BidaskClub raised shares of Brighthouse Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Bank of America decreased their target price on shares of Brighthouse Financial from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 6th. Morgan Stanley decreased their target price on shares of Brighthouse Financial from $58.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 6th. Barclays cut shares of Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research report on Friday, August 10th. Finally, Wells Fargo & Co set a $50.00 target price on shares of Brighthouse Financial and gave the stock a “hold” rating in a research report on Monday, November 5th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.07.

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Brighthouse Financial Company Profile

Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It offers variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.

See Also: Institutional Investors

Institutional Ownership by Quarter for Brighthouse Financial (NASDAQ:BHF)

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