© Reuters.
NEW YORK – Guggenheim Capital LLC has just lately elevated its holdings in Brighthouse Monetary (NASDAQ:), Inc., a supplier of annuities and life insurance coverage in america, by roughly 25%. This transfer by Guggenheim Capital underscores a rising curiosity within the monetary providers firm, which has additionally attracted important investments from corporations akin to Envestnet (NYSE:) Asset Administration Inc., Raymond James & Associates, PNC Monetary Companies Group Inc (NYSE:)., Financial institution of Montreal Can, and MetLife (NYSE:) Funding Administration LLC.
Brighthouse Monetary’s inventory efficiency has been beneath scrutiny, with analysts from Jefferies Monetary Group to Piper Sandler setting new value targets. The consensus amongst Wall Road analysts is a “Hold” score for the corporate, with an anticipated value goal round $50. The inventory at the moment holds a 50-day common of $21.12 and a 200-day common of $21.84.
The corporate’s monetary well being seems steady with a fast ratio of 0.82, indicating an affordable liquidity standing, and average leverage as mirrored by its debt-to-equity ratio. Regardless of this monetary standing, Brighthouse Monetary’s quarterly earnings, reported on November seventh, revealed that whereas earnings per share (EPS) surpassed forecasts, there was a notable discrepancy between precise income and analyst projections.
Brighthouse Monetary operates by segments together with Annuities, Life, and Run-off, providing merchandise designed for wealth accumulation, wealth switch, and earnings safety on a tax-deferred foundation. Over the previous three years, the corporate has demonstrated a constant dividend progress of 10.1% each year.
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