SG Americas Securities LLC Makes New $388,000 Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

SG Americas Securities LLC bought a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,964 shares of the company’s stock, valued at approximately $388,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BHF. UBS Group AG increased its stake 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 purchasing an additional 45,938 shares during the period. Norges Bank bought a new position in Brighthouse Financial in the 4th quarter worth approximately $33,362,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brighthouse Financial by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 441,234 shares of the company’s stock worth $23,350,000 after buying an additional 8,471 shares during the last quarter. Private Management Group Inc. boosted its position in shares of Brighthouse Financial by 1.9% in the first quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock valued at $17,559,000 after acquiring an additional 6,496 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Brighthouse Financial by 2.4% in the first quarter. Principal Financial Group Inc. now owns 241,938 shares of the company’s stock valued at $12,469,000 after acquiring an additional 5,743 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BHF shares. Piper Sandler cut their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods cut their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Wells Fargo & Company downgraded Brighthouse Financial from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $51.00 to $40.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Finally, Evercore ISI reduced their price objective on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

Brighthouse Financial Stock Up 0.7 %

NASDAQ BHF opened at $43.79 on Thursday. Brighthouse Financial, Inc. has a 1-year low of $40.24 and a 1-year high of $56.24. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -2.30 and a beta of 1.08. The stock’s 50 day moving average is $44.84 and its two-hundred day moving average is $46.59. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, beating the consensus estimate of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm earned $4.13 EPS. Brighthouse Financial’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Brighthouse Financial, Inc. will post 15.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brighthouse Financial news, Director Michael J. Inserra acquired 2,500 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $43.20 per share, for a total transaction of $108,000.00. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $237,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the 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 sale, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,250 shares of company stock worth $826,006. Corporate insiders own 1.40% of the company’s stock.

Brighthouse Financial Company 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.