Vazirani Asset Management LLC Invests $633,000 in Brighthouse Financial, Inc. $BHF

Vazirani Asset Management LLC acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the company’s stock, valued at approximately $633,000. Brighthouse Financial comprises 0.0% of Vazirani Asset Management LLC’s holdings, making the stock its 12th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quantinno Capital Management LP lifted its holdings in Brighthouse Financial by 34.7% in the 1st quarter. Quantinno Capital Management LP now owns 186,971 shares of the company’s stock valued at $11,196,000 after purchasing an additional 48,174 shares in the last quarter. BlackRock Inc. acquired a new position in Brighthouse Financial in the second quarter worth approximately $341,422,000. Public Employees Retirement System of Ohio raised its stake in shares of Brighthouse Financial by 38.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company’s stock valued at $3,679,000 after acquiring an additional 17,164 shares in the last quarter. Amundi grew its holdings in shares of Brighthouse Financial by 3,855.0% in the 1st quarter. Amundi now owns 123,276 shares of the company’s stock worth $7,382,000 after purchasing an additional 120,159 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Brighthouse Financial during the first quarter worth $4,036,000. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Stock Down 2.1%

Brighthouse Financial stock traded down $1.12 during mid-day trading on Friday, reaching $53.04. The stock had a trading volume of 1,038,175 shares, compared to its average volume of 693,560. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.80. The stock’s 50-day simple moving average is $61.42 and its 200-day simple moving average is $61.60. The firm has a market capitalization of $3.05 billion, a PE ratio of 4.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $2.18 billion. Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.43 EPS. On average, sell-side analysts forecast that Brighthouse Financial, Inc. will post 18.91 EPS for the current fiscal year.

Analysts Set New Price Targets

BHF has been the subject of a number of research reports. Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen raised Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of Brighthouse Financial from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Brighthouse Financial has an average rating of “Reduce” and a consensus target price of $60.50.

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.