Hsbc Holdings PLC Sells 42,780 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Hsbc Holdings PLC trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 68.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,551 shares of the company’s stock after selling 42,780 shares during the period. Hsbc Holdings PLC’s holdings in Brighthouse Financial were worth $854,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. increased its position in Brighthouse Financial by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock valued at $55,210,000 after purchasing an additional 228,814 shares during the period. Private Management Group Inc. raised its stake in Brighthouse Financial by 1.9% in the first quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock worth $17,559,000 after buying an additional 6,496 shares in the last quarter. Principal Financial Group Inc. raised its stake in Brighthouse Financial by 2.4% in the first quarter. Principal Financial Group Inc. now owns 241,938 shares of the company’s stock worth $12,469,000 after buying an additional 5,743 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Brighthouse Financial by 0.9% in the first quarter. Russell Investments Group Ltd. now owns 226,045 shares of the company’s stock worth $11,650,000 after buying an additional 1,942 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in Brighthouse Financial by 3,362.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock valued at $6,854,000 after acquiring an additional 153,581 shares in the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BHF shares. Jefferies Financial Group upped their price target on Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Barclays initiated coverage on shares of Brighthouse Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 target price for the company. Finally, Piper Sandler cut their price target 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. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.25.

Brighthouse Financial Trading Up 0.8 %

Shares of NASDAQ:BHF opened at $44.63 on Monday. The stock’s 50-day simple moving average is $44.61 and its two-hundred day simple moving average is $45.77. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -2.34 and a beta of 1.06. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $56.24. 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 (NASDAQ:BHF) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm posted $4.13 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Analysts expect that Brighthouse Financial, Inc. will post 18.16 EPS for the current year.

Insider Activity

In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the transaction, the chief executive officer now directly owns 321,072 shares in the company, valued at $14,663,358.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now owns 96,262 shares in the company, valued at $4,428,052. The disclosure for this sale can be found here. Insiders sold a total of 42,125 shares of company stock valued at $1,895,248 in the last 90 days. Company 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.