Brighthouse Financial Inc (NASDAQ:BHF) Sees Large Increase in Short Interest
Brighthouse Financial Inc (NASDAQ:BHF) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 5,966,000 shares, a growth of 13.4% from the July 31st total of 5,261,400 shares. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is currently 5.3 days. Currently, 5.4% of the shares of the stock are short sold.
Shares of Brighthouse Financial stock traded up $1.14 during trading hours on Friday, reaching $40.63. 239,364 shares of the stock traded hands, compared to its average volume of 958,555. The company has a 50 day moving average price of $35.97 and a 200 day moving average price of $37.81. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 5.46, a P/E/G ratio of 0.40 and a beta of 2.06. Brighthouse Financial has a one year low of $28.52 and a one year high of $47.33. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.27.
Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Monday, August 5th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.33. Brighthouse Financial had a return on equity of 6.74% and a net margin of 9.61%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $1.68 EPS. Sell-side analysts anticipate that Brighthouse Financial will post 8.67 earnings per share for the current year.
In other Brighthouse Financial news, COO Conor Murphy bought 3,000 shares of Brighthouse Financial stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $35.68 per share, for a total transaction of $107,040.00. Following the completion of the purchase, the chief operating officer now directly owns 20,902 shares in the company, valued at approximately $745,783.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Margaret M. Mccarthy bought 2,941 shares of Brighthouse Financial stock in a transaction on Wednesday, June 26th. The stock was acquired at an average price of $34.08 per share, for a total transaction of $100,229.28. Following the purchase, the director now owns 4,423 shares of the company’s stock, valued at $150,735.84. The disclosure for this purchase can be found here. Insiders have bought a total of 31,441 shares of company stock worth $1,091,409 over the last ninety days. Insiders own 0.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. ETF Managers Group LLC boosted its position in shares of Brighthouse Financial by 9.9% in the 1st quarter. ETF Managers Group LLC now owns 2,785 shares of the company’s stock valued at $101,000 after purchasing an additional 250 shares during the period. AGF Investments America Inc. boosted its holdings in Brighthouse Financial by 7.2% in the first quarter. AGF Investments America Inc. now owns 4,075 shares of the company’s stock valued at $148,000 after acquiring an additional 272 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Brighthouse Financial by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 115,036 shares of the company’s stock valued at $4,221,000 after acquiring an additional 354 shares during the last quarter. Strs Ohio raised its position in Brighthouse Financial by 34.6% in the first quarter. Strs Ohio now owns 1,440 shares of the company’s stock valued at $52,000 after purchasing an additional 370 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in Brighthouse Financial by 8.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,142 shares of the company’s stock valued at $259,000 after purchasing an additional 527 shares during the period. Institutional investors and hedge funds own 87.25% of the company’s stock.
About Brighthouse Financial
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 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.
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