Point72 DIFC Ltd Raises Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Point72 DIFC Ltd increased its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 240.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,583 shares of the company’s stock after acquiring an additional 9,593 shares during the period. Point72 DIFC Ltd’s holdings in Brighthouse Financial were worth $589,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BHF. Bank of Montreal Can raised its stake in shares of Brighthouse Financial by 11.1% in the 2nd quarter. Bank of Montreal Can now owns 97,132 shares of the company’s stock valued at $4,257,000 after acquiring an additional 9,711 shares during the period. XTX Topco Ltd increased its holdings in Brighthouse Financial by 244.2% in the 2nd quarter. XTX Topco Ltd now owns 23,248 shares of the company’s stock valued at $1,008,000 after purchasing an additional 16,493 shares in the last quarter. Seven Eight Capital LP lifted its stake in shares of Brighthouse Financial by 5.3% during the second quarter. Seven Eight Capital LP now owns 29,553 shares of the company’s stock worth $1,281,000 after purchasing an additional 1,490 shares in the last quarter. Edgestream Partners L.P. grew its position in Brighthouse Financial by 12.7% in the second quarter. Edgestream Partners L.P. now owns 153,789 shares of the company’s stock valued at $6,665,000 after acquiring an additional 17,329 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Brighthouse Financial by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 40,032 shares of the company’s stock worth $1,735,000 after purchasing an additional 3,681 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BHF shares. Piper Sandler reduced their price objective on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. lifted their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Evercore ISI dropped their price objective on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Keefe, Bruyette & Woods reduced their price objective on 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. Finally, Jefferies Financial Group lifted their price target on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.25.

Insider Activity at Brighthouse Financial

In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the transaction, the chief executive officer now directly owns 321,072 shares in the company, valued at $14,663,358.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.74, for a total value of $297,397.50. Following the sale, the chief financial officer now owns 37,640 shares of the company’s stock, valued at $1,571,093.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the completion of the sale, the chief executive officer now owns 321,072 shares in the company, valued at approximately $14,663,358.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,125 shares of company stock valued at $1,895,248. Insiders own 1.40% of the company’s stock.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $43.71 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $56.24. The company has a market capitalization of $2.66 billion, a PE ratio of -2.30 and a beta of 1.06. The stock has a fifty day moving average of $44.75 and a 200-day moving average of $45.82.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the company earned $4.13 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Brighthouse Financial, Inc. will post 18.16 EPS for the current fiscal year.

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.