As I disclosed in an earlier note I intended to place a good-til-cancelled order for some shares in annuity provider Brighthouse Financial (BHF).
The BHFAP 6.60% non cumulative preferred was trading at $22/share on Friday and I entered a GTC order at $21.75—the order executed Friday afternoon. This was just a starter position.
At this time I don’t know if I will add to this position–will wait to see their financials for 2023 which won’t be released until 2/12/2024 so there is more than a month to wait.
In the next 6 months I expect shares to rise into the $23 area–this is if the 10 year treasury drifts lower—and who can predict the movements really.
I like Brighthouse, own a bit myself. Good earnings, good dividend, what’s not to like 🙂
Predicting the most likely movement of the drifts is why we have technicals. It’s not always right but I believe it’s more correct than if you follow the news or read data presented thru a biased human intermediary.