State of Alaska Department of Revenue Reduces Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

State of Alaska Department of Revenue trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 11.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,936 shares of the company’s stock after selling 905 shares during the quarter. State of Alaska Department of Revenue’s holdings in Brighthouse Financial were worth $367,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Brighthouse Financial by 123.2% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock worth $36,000 after buying an additional 404 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Brighthouse Financial during the first quarter worth $50,000. Quantbot Technologies LP acquired a new position in Brighthouse Financial during the first quarter worth $151,000. Captrust Financial Advisors boosted its stake in Brighthouse Financial by 9.6% during the first quarter. Captrust Financial Advisors now owns 3,071 shares of the company’s stock worth $159,000 after buying an additional 268 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its stake in Brighthouse Financial by 111.0% during the second quarter. Atlas Capital Advisors LLC now owns 4,088 shares of the company’s stock worth $168,000 after buying an additional 2,151 shares during the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the sale, the chief executive officer now owns 390,765 shares in the company, valued at approximately $18,350,324.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the sale, the chief executive officer now owns 390,765 shares in the company, valued at approximately $18,350,324.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vonda Huss sold 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.85, for a total value of $468,500.00. Following the sale, the executive vice president now owns 27,080 shares in the company, valued at approximately $1,268,698. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on BHF. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $50.00 price objective on shares of Brighthouse Financial in a research note on Friday, February 16th. Piper Sandler upped their price target on Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price target on Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Morgan Stanley lowered Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research note on Friday, February 23rd. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and an average target price of $51.14.

Brighthouse Financial Price Performance

BHF opened at $47.96 on Friday. The stock’s 50-day moving average price is $48.74 and its 200 day moving average price is $49.74. Brighthouse Financial, Inc. has a 12-month low of $39.24 and a 12-month high of $56.24. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -2.59 and a beta of 1.16.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Tuesday, February 13th. The company reported $2.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.91). Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted $3.51 EPS. As a group, sell-side analysts expect that Brighthouse Financial, Inc. will post 17.05 earnings per share for the current year.

Brighthouse Financial Profile

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 consists of 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.