490,000 Shares in Brighthouse Financial (BHF) Purchased by EJF Capital LLC
EJF Capital LLC acquired a new position in Brighthouse Financial (NASDAQ:BHF) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 490,000 shares of the company’s stock, valued at approximately $25,186,000. Brighthouse Financial makes up about 2.0% of EJF Capital LLC’s investment portfolio, making the stock its 13th biggest position.
Other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new stake in Brighthouse Financial during the 1st quarter worth about $105,000. Municipal Employees Retirement System of Michigan acquired a new stake in Brighthouse Financial during the 1st quarter worth about $127,000. Daiwa Securities Group Inc. acquired a new stake in Brighthouse Financial during the 1st quarter worth about $131,000. Dreman Value Management L L C acquired a new stake in Brighthouse Financial during the 1st quarter worth about $167,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Brighthouse Financial during the 1st quarter worth about $173,000. 86.77% of the stock is owned by hedge funds and other institutional investors.
NASDAQ BHF opened at $47.11 on Friday. Brighthouse Financial has a fifty-two week low of $46.14 and a fifty-two week high of $75.00. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.26.
A number of brokerages have commented on BHF. Zacks Investment Research raised Brighthouse Financial from a “sell” rating to a “hold” rating in a research report on Monday, May 21st. BidaskClub cut Brighthouse Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 12th. ValuEngine lowered Brighthouse Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Credit Suisse Group initiated coverage on Brighthouse Financial in a research note on Wednesday, April 25th. They set an “underperform” rating and a $44.00 price objective for the company. Finally, Sandler O’Neill set a $53.00 price objective on Brighthouse Financial and gave the company a “hold” rating in a research note on Monday, April 2nd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.44.
About Brighthouse Financial
Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It offers 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; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.
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