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

Vazirani Asset Management LLC purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,000 shares of the company’s stock, valued at approximately $633,000,000. Brighthouse Financial comprises about 3.1% of Vazirani Asset Management LLC’s investment portfolio, making the stock its 12th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Brighthouse Financial during the 2nd quarter worth $341,422,000. HBK Investments L P bought a new stake in shares of Brighthouse Financial in the fourth quarter valued at about $136,059,000. Glazer Capital LLC acquired a new position in shares of Brighthouse Financial in the fourth quarter valued at about $113,252,000. UBS Group AG grew its stake in shares of Brighthouse Financial by 98.1% in the third quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock valued at $181,177,000 after acquiring an additional 1,690,064 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Brighthouse Financial by 190.7% in the third quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company’s stock valued at $74,113,000 after acquiring an additional 915,902 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.

Brighthouse Financial Price Performance

BHF stock opened at $52.49 on Thursday. 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, Inc. has a 12 month low of $42.07 and a 12 month high of $66.80. The firm has a market cap of $3.02 billion, a P/E ratio of 4.19 and a beta of 0.87. The company’s 50-day moving average price is $61.60 and its two-hundred day moving average price is $61.66.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). The firm had revenue of $1.62 billion for 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 was down 2.0% on a year-over-year basis. During the same period last year, the company posted $3.43 EPS. On average, analysts anticipate that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Brighthouse Financial 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.