Assenagon Asset Management S.A. Invests $3.44 Million in Brighthouse Financial, Inc. (NASDAQ:BHF)

Assenagon Asset Management S.A. acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 79,359 shares of the company’s stock, valued at approximately $3,439,000. Assenagon Asset Management S.A. owned approximately 0.13% of Brighthouse Financial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BHF. Retirement Systems of Alabama grew its position in shares of Brighthouse Financial by 0.3% in the first quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock valued at $4,155,000 after purchasing an additional 211 shares during the last quarter. US Bancorp DE increased its position in Brighthouse Financial by 0.6% in the 1st quarter. US Bancorp DE now owns 35,695 shares of the company’s stock worth $1,840,000 after buying an additional 211 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Brighthouse Financial by 36.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after buying an additional 303 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Brighthouse Financial by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,187 shares of the company’s stock valued at $1,280,000 after acquiring an additional 388 shares during the period. Finally, State of Michigan Retirement System grew its stake in shares of Brighthouse Financial by 2.6% in the first quarter. State of Michigan Retirement System now owns 15,768 shares of the company’s stock worth $813,000 after acquiring an additional 400 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BHF shares. Jefferies Financial Group boosted their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Piper Sandler dropped their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods decreased their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Evercore ISI dropped their price target on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and an average price target of $50.00.

Brighthouse Financial Price Performance

NASDAQ:BHF opened at $43.52 on Tuesday. The firm has a market cap of $2.70 billion, a PE ratio of -2.29 and a beta of 1.08. The company’s 50-day moving average price is $44.81 and its two-hundred day moving average price is $46.64. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. Brighthouse Financial, Inc. has a 12 month low of $40.24 and a 12 month high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the company earned $4.13 EPS. Brighthouse Financial’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Brighthouse Financial, Inc. will post 15.01 EPS for the current fiscal year.

Insider Activity

In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares in the company, valued at $4,428,052. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the sale, the chief financial officer now owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,250 shares of company stock worth $826,006. 1.40% of the stock is owned by corporate insiders.

Brighthouse Financial Company Profile

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 consists of 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.