M&T Bank Corp Acquires Shares of 23,903 Brighthouse Financial, Inc. $BHF

M&T Bank Corp acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 23,903 shares of the company’s stock, valued at approximately $1,549,000.

Several other large investors have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Brighthouse Financial by 33.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 49,441 shares of the company’s stock valued at $3,203,000 after acquiring an additional 12,486 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in Brighthouse Financial during the 4th quarter valued at approximately $948,000. Waterfront Wealth Inc. boosted its position in Brighthouse Financial by 0.6% during the 4th quarter. Waterfront Wealth Inc. now owns 35,055 shares of the company’s stock valued at $2,255,000 after acquiring an additional 192 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Brighthouse Financial by 41.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,737 shares of the company’s stock valued at $1,214,000 after acquiring an additional 5,523 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Brighthouse Financial by 25.2% during the 4th quarter. Signaturefd LLC now owns 3,350 shares of the company’s stock valued at $217,000 after acquiring an additional 675 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BHF shares. Argus raised Brighthouse Financial to a “hold” rating in a research report on Thursday, March 26th. Barclays cut Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock. in a research report on Thursday, January 8th. Zacks Research cut Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, March 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 price objective on shares of Brighthouse Financial in a research report on Thursday, March 26th. Eight equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brighthouse Financial presently has a consensus rating of “Reduce” and a consensus price target of $60.86.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $61.93 on Thursday. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.33. The company has a 50 day simple moving average of $60.82 and a two-hundred day simple moving average of $61.37. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 10.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.95 and a current ratio of 0.95.

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.