Verition Fund Management LLC Purchases 195,519 Shares of Brighthouse Financial, Inc. $BHF

Verition Fund Management LLC increased its position in Brighthouse Financial, Inc. (NASDAQ:BHF) by 275.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 266,500 shares of the company’s stock after acquiring an additional 195,519 shares during the period. Verition Fund Management LLC’s holdings in Brighthouse Financial were worth $17,267,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BHF. Panagora Asset Management Inc. purchased a new position in Brighthouse Financial during the fourth quarter valued at $242,000. Garrison Point Advisors LLC purchased a new position in Brighthouse Financial during the fourth quarter valued at $224,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Brighthouse Financial during the fourth quarter valued at $25,320,000. Aigen Investment Management LP purchased a new position in Brighthouse Financial during the fourth quarter valued at $262,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Brighthouse Financial during the fourth quarter valued at $96,000. Institutional investors own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BHF shares. Weiss Ratings downgraded Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $67.00 target price on shares of Brighthouse Financial in a research report on Thursday, March 26th. Argus upgraded Brighthouse Financial to a “hold” rating in a research report on Thursday, March 26th. Finally, Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Eight equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $60.86.

Brighthouse Financial Price Performance

NASDAQ BHF opened at $62.93 on Tuesday. The company has a market capitalization of $3.62 billion, a PE ratio of -21.12 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day moving average is $62.02 and its 200 day moving average is $62.79. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.33.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.57 by ($0.22). Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the firm earned $4.17 earnings per share. Brighthouse Financial’s revenue was down 29.4% on a year-over-year basis. Sell-side analysts predict that Brighthouse Financial, Inc. will post 19.73 earnings per share 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.