Strs Ohio Invests $1.27 Million in Brighthouse Financial, Inc. (NASDAQ:BHF)

Strs Ohio bought a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 23,980 shares of the company’s stock, valued at approximately $1,269,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada lifted its position in Brighthouse Financial by 29.7% during the 3rd quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock valued at $101,496,000 after acquiring an additional 475,327 shares during the period. Northern Trust Corp lifted its position in Brighthouse Financial by 0.3% during the 3rd quarter. Northern Trust Corp now owns 723,928 shares of the company’s stock valued at $35,429,000 after acquiring an additional 2,438 shares during the period. American Century Companies Inc. lifted its position in Brighthouse Financial by 21.8% during the 3rd quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock valued at $32,663,000 after acquiring an additional 119,345 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Brighthouse Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 432,763 shares of the company’s stock valued at $21,179,000 after acquiring an additional 15,643 shares during the period. Finally, Invesco Ltd. lifted its position in Brighthouse Financial by 12.7% during the 3rd quarter. Invesco Ltd. now owns 368,632 shares of the company’s stock valued at $18,041,000 after acquiring an additional 41,495 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Stock Performance

Shares of BHF stock opened at $49.15 on Tuesday. The company has a 50 day moving average price of $48.20 and a 200-day moving average price of $49.77. Brighthouse Financial, Inc. has a 52 week low of $39.24 and a 52 week high of $56.24. The firm has a market capitalization of $3.07 billion, a PE ratio of -2.65 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $3.51 earnings per share. As a group, equities research analysts expect that Brighthouse Financial, Inc. will post 17.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BHF has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $50.00 price objective on shares of Brighthouse Financial in a research note on Friday, February 16th. Morgan Stanley lowered shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective for the company. in a research note on Friday, February 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, Brighthouse Financial has an average rating of “Hold” and an average target price of $51.14.

Insider Transactions at Brighthouse Financial

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.96, for a total value of $1,174,000.00. Following the completion of the sale, the chief executive officer now directly owns 390,765 shares in the company, valued at $18,350,324.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Vonda Huss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.85, for a total value of $468,500.00. Following the transaction, the executive vice president now owns 27,080 shares of the company’s stock, valued at $1,268,698. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 390,765 shares in the company, valued at approximately $18,350,324.40. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

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.