Brighthouse Financial Inc (NASDAQ:BHF) Short Interest Update

Brighthouse Financial Inc (NASDAQ:BHF) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 5,466,100 shares, a growth of 15.5% from the May 30th total of 4,732,100 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is presently 4.0 days.

Shares of BHF stock opened at $38.34 on Monday. Brighthouse Financial has a 12-month low of $28.52 and a 12-month high of $47.33. The company has a market cap of $4.44 billion, a P/E ratio of 5.45, a P/E/G ratio of 0.37 and a beta of 2.04. The company’s 50-day moving average price is $37.28. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.29.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Monday, May 6th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.12 by ($0.14). Brighthouse Financial had a net margin of 2.49% and a return on equity of 6.01%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business earned $2.36 earnings per share. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, equities research analysts predict that Brighthouse Financial will post 8.89 earnings per share for the current year.

In related news, Director Margaret M. Mccarthy purchased 2,941 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $34.08 per share, for a total transaction of $100,229.28. Following the transaction, the director now directly owns 4,423 shares of the company’s stock, valued at approximately $150,735.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director C Edward Chaplin purchased 2,700 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $36.50 per share, for a total transaction of $98,550.00. Following the completion of the transaction, the director now directly owns 6,939 shares in the company, valued at $253,273.50. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in Brighthouse Financial by 28.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 24,946 shares of the company’s stock valued at $915,000 after acquiring an additional 5,594 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in Brighthouse Financial by 31.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 22,300 shares of the company’s stock valued at $818,000 after acquiring an additional 5,304 shares in the last quarter. Retirement Systems of Alabama increased its position in Brighthouse Financial by 177.3% in the 2nd quarter. Retirement Systems of Alabama now owns 150,639 shares of the company’s stock valued at $5,527,000 after acquiring an additional 96,313 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Brighthouse Financial by 3.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 158,771 shares of the company’s stock valued at $5,761,000 after acquiring an additional 4,591 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Brighthouse Financial by 52.1% in the 1st quarter. First Trust Advisors LP now owns 22,118 shares of the company’s stock valued at $803,000 after acquiring an additional 7,577 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. Goldman Sachs Group set a GBX 6,870 ($89.77) price target on shares of Reckitt Benckiser Group and gave the stock a “neutral” rating in a research report on Tuesday, June 25th. Morgan Stanley raised their price target on shares of Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. UBS Group raised their price target on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a “sell” rating in a research report on Tuesday, April 9th. BidaskClub upgraded shares of Wintrust Financial from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Finally, Wells Fargo & Co lowered shares of Mylan from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $33.00 to $22.00 in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $41.73.

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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