Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,434 Shares of Brighthouse Financial Inc (NASDAQ:BHF)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Brighthouse Financial Inc (NASDAQ:BHF) by 18.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,348 shares of the company’s stock after purchasing an additional 1,434 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brighthouse Financial were worth $226,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ancora Advisors LLC bought a new position in shares of Brighthouse Financial in the fourth quarter worth approximately $48,000. Northwestern Mutual Wealth Management Co. lifted its stake in Brighthouse Financial by 163.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,888 shares of the company’s stock worth $74,000 after acquiring an additional 1,171 shares during the period. Penserra Capital Management LLC purchased a new stake in Brighthouse Financial in the fourth quarter worth $140,000. Signaturefd LLC lifted its stake in Brighthouse Financial by 12.3% in the fourth quarter. Signaturefd LLC now owns 3,781 shares of the company’s stock worth $148,000 after acquiring an additional 413 shares during the period. Finally, Caxton Associates LP purchased a new stake in Brighthouse Financial in the fourth quarter worth $202,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

BHF has been the subject of a number of research analyst reports. BidaskClub raised Brighthouse Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. Morgan Stanley lowered their price objective on Brighthouse Financial from $42.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 17th. Royal Bank of Canada raised their price objective on Brighthouse Financial from $24.00 to $33.00 in a research report on Wednesday, May 13th. Citigroup raised their price objective on Brighthouse Financial from $33.00 to $40.00 and gave the company a “sell” rating in a research report on Tuesday, February 18th. They noted that the move was a valuation call. Finally, Piper Sandler lowered their price objective on Brighthouse Financial from $38.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, March 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.89.

In other Brighthouse Financial news, Director William Francis Wallace acquired 5,000 shares of Brighthouse Financial stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $22.83 per share, for a total transaction of $114,150.00. Following the acquisition, the director now owns 9,694 shares of the company’s stock, valued at $221,314.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

NASDAQ BHF opened at $31.58 on Wednesday. Brighthouse Financial Inc has a one year low of $12.05 and a one year high of $48.25. The stock has a 50-day moving average of $25.45 and a 200 day moving average of $34.25. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 0.68 and a beta of 1.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.72.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Monday, May 11th. The company reported $2.60 EPS for the quarter, topping the consensus estimate of $1.96 by $0.64. Brighthouse Financial had a return on equity of 6.34% and a net margin of 33.37%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company earned $2.21 EPS. Brighthouse Financial’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts predict that Brighthouse Financial Inc will post 8.48 earnings per share for the current fiscal year.

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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