Teacher Retirement System of Texas Makes New $780,000 Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

Teacher Retirement System of Texas purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,459 shares of the company’s stock, valued at approximately $780,000.

Several other hedge funds have also added to or reduced their stakes in BHF. Canada Pension Plan Investment Board increased its position in shares of Brighthouse Financial by 187.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company’s stock valued at $87,585,000 after acquiring an additional 1,188,685 shares during the period. Norges Bank purchased a new position in shares of Brighthouse Financial in the fourth quarter valued at about $37,131,000. AQR Capital Management LLC increased its position in shares of Brighthouse Financial by 156.9% in the fourth quarter. AQR Capital Management LLC now owns 656,464 shares of the company’s stock valued at $31,537,000 after acquiring an additional 400,924 shares during the period. American Century Companies Inc. increased its position in shares of Brighthouse Financial by 12.1% in the fourth quarter. American Century Companies Inc. now owns 1,682,076 shares of the company’s stock valued at $80,807,000 after acquiring an additional 181,980 shares during the period. Finally, Bridgewater Associates LP increased its position in shares of Brighthouse Financial by 198.6% in the fourth quarter. Bridgewater Associates LP now owns 209,523 shares of the company’s stock valued at $10,065,000 after acquiring an additional 139,356 shares during the period. 81.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BHF shares. Morgan Stanley decreased their price objective on shares of Brighthouse Financial from $45.00 to $42.00 and set an “underweight” rating on the stock in a research report on Monday. Raymond James Financial upgraded shares of Brighthouse Financial from a “market perform” rating to a “strong-buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their price target on shares of Brighthouse Financial from $56.00 to $59.00 and gave the company a “market perform” rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price target on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an “underweight” rating in a research report on Tuesday, July 8th. Finally, Barclays reduced their price target on shares of Brighthouse Financial from $76.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.30.

Insider Activity

In other news, EVP Vonda Huss sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total value of $178,530.00. Following the completion of the sale, the executive vice president directly owned 18,441 shares of the company’s stock, valued at $1,097,423.91. This represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Brighthouse Financial Stock Up 0.7%

Shares of Brighthouse Financial stock opened at $49.13 on Tuesday. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 5.89 and a beta of 0.88. The company’s 50 day moving average is $57.09 and its 200 day moving average is $55.43. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Thursday, May 8th. The company reported $4.17 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.55). Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business posted $4.25 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

About Brighthouse Financial

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.