Traders Buy Large Volume of Put Options on Brighthouse Financial (NASDAQ:BHF)

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Brighthouse Financial Inc (NASDAQ:BHF) saw unusually large options trading activity on Tuesday. Stock traders bought 6,982 put options on the company. This represents an increase of 3,118% compared to the typical daily volume of 217 put options.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Brighthouse Financial by 25.6% during the second quarter. BlackRock Inc. now owns 11,820,754 shares of the company’s stock worth $433,707,000 after buying an additional 2,412,741 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Brighthouse Financial by 37.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,593,115 shares of the company’s stock worth $58,451,000 after acquiring an additional 436,557 shares during the period. AQR Capital Management LLC grew its holdings in shares of Brighthouse Financial by 3,835.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,198,214 shares of the company’s stock worth $43,184,000 after purchasing an additional 1,167,764 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Brighthouse Financial during the second quarter valued at approximately $19,980,000. Finally, Mackay Shields LLC raised its stake in shares of Brighthouse Financial by 28.5% in the third quarter. Mackay Shields LLC now owns 518,402 shares of the company’s stock valued at $20,979,000 after purchasing an additional 115,081 shares in the last quarter. 85.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. ValuEngine raised Brighthouse Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co reaffirmed a “hold” rating and set a $41.00 target price on shares of Brighthouse Financial in a report on Tuesday, November 5th. Bank of America dropped their price target on shares of Brighthouse Financial from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. BidaskClub raised shares of Brighthouse Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Citigroup lowered their price objective on shares of Brighthouse Financial from $36.00 to $33.00 and set a “sell” rating on the stock in a research note on Friday, September 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.11.

NASDAQ:BHF opened at $38.10 on Wednesday. The stock’s 50-day moving average is $39.51 and its two-hundred day moving average is $37.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $4.44 billion, a PE ratio of 5.12, a price-to-earnings-growth ratio of 0.41 and a beta of 2.10. Brighthouse Financial has a fifty-two week low of $28.52 and a fifty-two week high of $44.12.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.22 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Brighthouse Financial had a net margin of 17.25% and a return on equity of 6.21%. During the same period last year, the company posted $2.23 earnings per share. On average, equities research analysts anticipate that Brighthouse Financial will post 9.38 earnings per share for the current year.

About Brighthouse Financial

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment 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.

See Also: Blockchain

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