Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System lifted its holdings in Brighthouse Financial, Inc. (NASDAQ:BHFFree Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,768 shares of the company’s stock after purchasing an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Brighthouse Financial were worth $813,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of Brighthouse Financial by 29.7% in the 3rd quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock worth $101,496,000 after purchasing an additional 475,327 shares during the last quarter. UBS Group AG increased its position in shares of Brighthouse Financial by 4.5% in the fourth quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock worth $56,200,000 after acquiring an additional 45,938 shares in the last quarter. American Century Companies Inc. increased its position in shares of Brighthouse Financial by 21.8% in the third quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after acquiring an additional 119,345 shares in the last quarter. Norges Bank purchased a new position in shares of Brighthouse Financial in the fourth quarter worth approximately $33,362,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Brighthouse Financial by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 441,234 shares of the company’s stock worth $23,350,000 after acquiring an additional 8,471 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insider Buying and Selling

In other Brighthouse Financial news, Director Michael J. Inserra purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $43.20 per share, with a total value of $108,000.00. Following the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at $237,600. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total transaction 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 approximately $1,876,101.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Inserra purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $43.20 per share, with a total value of $108,000.00. Following the completion of the purchase, the director now directly owns 5,500 shares in the company, valued at $237,600. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Brighthouse Financial Stock Performance

Shares of NASDAQ:BHF opened at $42.98 on Monday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -2.26 and a beta of 1.09. The firm’s 50 day simple moving average is $44.46 and its 200 day simple moving average is $48.01. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.83. Brighthouse Financial, Inc. has a fifty-two week low of $40.24 and a fifty-two week high of $56.24.

Brighthouse Financial (NASDAQ:BHFGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the company posted $2.86 EPS. Brighthouse Financial’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Brighthouse Financial, Inc. will post 16.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BHF shares. Evercore ISI dropped their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. Piper Sandler lowered their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group boosted their price objective on shares of Brighthouse Financial from $46.00 to $49.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods raised shares of Brighthouse Financial from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from $48.00 to $47.00 in a research report on Monday, June 17th. Finally, Wells Fargo & Company lowered their price objective on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.44.

Read Our Latest Stock Analysis on BHF

Brighthouse Financial Profile

(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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