Ionic Capital Management LLC Makes New Investment in Brighthouse Financial, Inc. $BHF

Ionic Capital Management LLC purchased a new position in 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 fund purchased 11,000 shares of the company’s stock, valued at approximately $584,000.

Several other institutional investors have also added to or reduced their stakes in BHF. UBS Group AG grew its stake in shares of Brighthouse Financial by 98.1% during the third quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock valued at $181,177,000 after buying an additional 1,690,064 shares during the last quarter. AQR Capital Management LLC lifted its stake in Brighthouse Financial by 190.7% in the third 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 period. Norges Bank bought a new stake in Brighthouse Financial in the second quarter valued at $41,182,000. Freestone Grove Partners LP purchased a new position in Brighthouse Financial during the 3rd quarter valued at $31,465,000. Finally, First Trust Advisors LP raised its holdings in Brighthouse Financial by 2,224.3% in the 2nd quarter. First Trust Advisors LP now owns 514,080 shares of the company’s stock worth $27,642,000 after purchasing an additional 491,962 shares in the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Brighthouse Financial in a research note on Monday, December 29th. Barclays cut Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price for the company. in a research note on Thursday, January 8th. Finally, Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 17th. Eight research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $63.67.

Brighthouse Financial Stock Down 0.2%

Shares of NASDAQ:BHF opened at $60.23 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $63.04 and a two-hundred day simple moving average of $58.83. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month high of $66.33. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 10.38 and a beta of 0.96.

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.