DLD Asset Management LP Invests $2.24 Million in Brighthouse Financial, Inc. $BHF

DLD Asset Management LP acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 35,448 shares of the company’s stock, valued at approximately $2,244,000. DLD Asset Management LP owned approximately 0.06% of Brighthouse Financial at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Brighthouse Financial during the 2nd quarter valued at about $341,422,000. Dimensional Fund Advisors LP increased its stake in Brighthouse Financial by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,555,823 shares of the company’s stock worth $212,926,000 after purchasing an additional 60,791 shares during the period. UBS Group AG lifted its position 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 worth $181,177,000 after purchasing an additional 1,690,064 shares in the last quarter. HBK Investments L P purchased a new position in shares of Brighthouse Financial in the fourth quarter valued at approximately $136,059,000. Finally, Glazer Capital LLC purchased a new position in shares of Brighthouse Financial in the fourth quarter valued at approximately $113,252,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $52.27 on Monday. The firm’s 50 day moving average price is $62.27 and its 200 day moving average price is $61.91. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 4.17 and a beta of 0.87. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Brighthouse Financial (NASDAQ:BHF) last issued 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). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the firm earned $3.43 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on BHF. Wall Street Zen raised shares of Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brighthouse Financial in a research report on Friday, August 7th. Finally, Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Brighthouse Financial currently has a consensus rating of “Reduce” and an average target price of $60.50.

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.