Retirement Systems of Alabama Has $4.26 Million Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Retirement Systems of Alabama lowered its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 80,414 shares of the company’s stock after selling 1,371 shares during the period. Retirement Systems of Alabama’s holdings in Brighthouse Financial were worth $4,256,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Brighthouse Financial by 21.8% during the 3rd quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after purchasing an additional 119,345 shares in the last quarter. Richard Bernstein Advisors LLC bought a new stake in shares of Brighthouse Financial during the 3rd quarter worth approximately $2,819,000. Lazard Asset Management LLC raised its stake in shares of Brighthouse Financial by 80.5% during the 3rd quarter. Lazard Asset Management LLC now owns 315,763 shares of the company’s stock worth $15,452,000 after purchasing an additional 140,796 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Brighthouse Financial by 94.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 82,620 shares of the company’s stock worth $4,043,000 after purchasing an additional 40,194 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Brighthouse Financial during the 3rd quarter worth approximately $1,165,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $50.00 price target on shares of Brighthouse Financial in a research note on Friday, February 16th. Morgan Stanley cut 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. Piper Sandler increased 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. Finally, Wells Fargo & Company increased 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, April 11th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.14.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF opened at $50.73 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average price is $48.52 and its two-hundred day moving average price is $49.82. Brighthouse Financial, Inc. has a one year low of $39.24 and a one year high of $56.24. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -2.74 and a beta of 1.14.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data 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 negative net margin of 27.01% and a positive return on equity of 20.71%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $3.51 earnings per share. On average, equities analysts forecast that Brighthouse Financial, Inc. will post 17.12 EPS for the current year.

Insider Transactions at Brighthouse Financial

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Vonda Huss sold 10,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.85, for a total transaction of $468,500.00. Following the sale, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.