Ontario Teachers Pension Plan Board Reduces Position in Brighthouse Financial as Company Faces Financial Challenges but Projects Positive Earnings

On September 7, 2023, it was reported that Ontario Teachers Pension Plan Board had reduced its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 26.4% during the first quarter. According to the filing with the Securities and Exchange Commission, the fund owned 23,438 shares of the company’s stock after selling 8,388 shares. The value of Ontario Teachers Pension Plan Board’s holdings in Brighthouse Financial was estimated at $1,034,000 at the time of filing.

Brighthouse Financial recently announced its quarterly earnings results on August 9th. The company reported earnings per share of $4.13 for the quarter, surpassing the consensus estimate of $3.55 by $0.58. The company generated revenue of $263.00 million during this period, compared to analysts’ expectations of $2.07 billion.

It is worth noting that Brighthouse Financial had a negative net margin of 65.81%. However, it did showcase a positive return on equity of 14.27%. During the same quarter last year, the company earned $3.29 EPS.

Brighthouse Financial operates in the United States and provides annuity and life insurance products. It is segmented into Annuities, Life, and Run-off divisions. The Annuities segment caters to contract holders’ needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security by offering variable, fixed, index-linked, and income annuities.

Looking ahead to future performance expectations from sell-side analysts who cover Brighthouse Financial as a group forecast anticipated earnings per share of 15.17 for the current fiscal year.

In conclusion, Ontario Teachers Pension Plan Board reduced its position in Brighthouse Financial during the first quarter of this year. Despite mixed financial results from their recent earnings report in August 2023 where they surpassed earning estimates, the company still faces challenges with a negative net margin. However, sell-side analysts predict positive earnings per share for the current fiscal year. As an insurer operating in the United States, Brighthouse Financial continues to focus on providing annuity and life insurance products to its customers for their wealth accumulation, transfer, and income security needs.

Institutional Investors and Hedge Funds Show Confidence in Brighthouse Financial with Increased Stakes

September 7, 2023 – Brighthouse Financial, Inc. (NASDAQ:BHF) has seen recent activity from institutional investors and hedge funds, with some increasing their stakes while others reducing their positions. The company’s stock opened at $49.36 on Thursday, with a 50-day simple moving average of $49.57 and a 200-day simple moving average of $46.67.

Norges Bank, one of the largest institutional investors globally, acquired a new position in shares of Brighthouse Financial during the fourth quarter of last year. Their investment amounted to an impressive $36,365,000. Similarly, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main also joined in by acquiring a new position in the company during the same period, investing about $25,936,000.

Goldman Sachs Group Inc., another prominent institution in the financial industry, increased its stake in Brighthouse Financial by 55.6% during the first quarter of this year. This added acquisition brought their total ownership to 888,o375 shares valued at $45,894,o00.

Great Lakes Advisors LLC experienced exponential growth in their position within Brighthouse Financial during the fourth quarter. They raised their holdings from 4o4i37 shares to now owning a remarkable accumulation of 267,o30 shares worth about $1,371,o00.

Man Group plc impressed market watchers as they boosted their stake in Brighthouse Financial by 154.3%. The firm purchased an additional 240,s85 shares to raise its total holding to 396,s29 shares valued at approximately $20,s35,o00.

With such significant investments made by these institutional players and hedge funds over recent quarters resulting in increased stakes or newly acquired positions even amidst current market volatility surrounding BHF stock prices on NASDAQ; it is clear that there is underlying confidence in this sector for future growth potential over time from top-tier investors across multiple industries.