UBS Group AG Raises Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Posted by Defense World Staff on May 15th, 2023

UBS Group AG boosted its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 886,344 shares of the company’s stock after purchasing an additional 36,891 shares during the quarter. UBS Group AG owned approximately 1.28% of Brighthouse Financial worth $45,443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. IFP Advisors Inc boosted its position in shares of Brighthouse Financial by 58.6% during the 3rd quarter. IFP Advisors Inc now owns 690 shares of the company’s stock worth $52,000 after acquiring an additional 255 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Brighthouse Financial by 9.6% in the 1st quarter. Captrust Financial Advisors now owns 3,071 shares of the company’s stock valued at $159,000 after purchasing an additional 268 shares during the period. Ingalls & Snyder LLC boosted its position in shares of Brighthouse Financial by 2.0% in the 4th quarter. Ingalls & Snyder LLC now owns 15,490 shares of the company’s stock valued at $794,000 after purchasing an additional 300 shares during the period. Lazard Asset Management LLC boosted its position in shares of Brighthouse Financial by 51.4% in the 3rd quarter. Lazard Asset Management LLC now owns 963 shares of the company’s stock valued at $41,000 after purchasing an additional 327 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Brighthouse Financial by 98.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 717 shares of the company’s stock valued at $37,000 after purchasing an additional 355 shares during the period. 79.90% of the stock is owned by institutional investors and hedge funds.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $39.86 on Monday. Brighthouse Financial, Inc. has a 1-year low of $38.38 and a 1-year high of $60.54. The company has a market capitalization of $2.68 billion, a P/E ratio of -12.90 and a beta of 1.26. The business has a 50 day moving average price of $43.85 and a 200 day moving average price of $50.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.61 and a quick ratio of 0.61.

Brighthouse Financial (NASDAQ:BHF – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.29). Brighthouse Financial had a net margin of 0.06% and a return on equity of 10.36%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the business earned $4.07 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts expect that Brighthouse Financial, Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BHF. The Goldman Sachs Group decreased their target price on Brighthouse Financial from $61.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, April 5th. Morgan Stanley decreased their price objective on Brighthouse Financial from $64.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 12th. Raymond James began coverage on Brighthouse Financial in a research report on Wednesday, February 8th. They set a “market perform” rating for the company. Jefferies Financial Group increased their price objective on Brighthouse Financial from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, February 21st. Finally, Piper Sandler decreased their price objective on Brighthouse Financial from $46.00 to $44.00 in a research report on Wednesday, May 10th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and an average price target of $51.38.

Brighthouse Financial Profile

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Brighthouse Financial, Inc operates as a holding company, which engages in the provision of life insurance and annuities through independent distribution channels and marketing arrangements with a diverse network of distribution partners. It operates through the following segments: Annuities, Life, Run-Off, and Corporate & Others.