Peapack Gladstone Financial Corp Has $676,000 Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Peapack Gladstone Financial Corp trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHFFree Report) by 28.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,765 shares of the company’s stock after selling 4,974 shares during the period. Peapack Gladstone Financial Corp’s holdings in Brighthouse Financial were worth $676,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Kestra Advisory Services LLC grew its stake in shares of Brighthouse Financial by 2.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 12,349 shares of the company’s stock valued at $604,000 after purchasing an additional 285 shares during the period. Quadrant Capital Group LLC grew its position in Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $60,000 after acquiring an additional 303 shares during the period. Quent Capital LLC raised its stake in Brighthouse Financial by 23.0% during the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after acquiring an additional 382 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Brighthouse Financial by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,187 shares of the company’s stock worth $1,280,000 after acquiring an additional 388 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Brighthouse Financial by 4.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,724 shares of the company’s stock valued at $427,000 after acquiring an additional 403 shares during the period. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Trading Down 1.7 %

BHF stock opened at $42.85 on Friday. The business has a fifty day moving average of $47.41 and a 200-day moving average of $49.50. The company has a market cap of $2.66 billion, a P/E ratio of -2.25 and a beta of 1.08. Brighthouse Financial, Inc. has a twelve month low of $41.73 and a twelve month high of $56.24. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.74.

Brighthouse Financial (NASDAQ:BHFGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.29. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm earned $2.86 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Brighthouse Financial, Inc. will post 16.29 EPS for the current year.

Insider Buying and Selling at Brighthouse Financial

In other news, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the transaction, the chief financial officer now directly owns 44,765 shares in the company, valued at approximately $1,876,101.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael J. Inserra purchased 2,500 shares of Brighthouse Financial stock in a transaction dated Thursday, May 30th. The shares were bought at an average cost of $43.20 per share, with a total value of $108,000.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $237,600. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BHF. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $50.00 target price on shares of Brighthouse Financial in a report on Friday, February 16th. Piper Sandler decreased their price objective on shares of Brighthouse Financial from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company reduced their target price on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Finally, Morgan Stanley cut Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target for the company. in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.29.

View Our Latest Report on BHF

About Brighthouse Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Brighthouse Financial (NASDAQ:BHF)

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