Arizona State Retirement System Trims Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Arizona State Retirement System cut its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 3.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,013 shares of the company’s stock after selling 603 shares during the period. Arizona State Retirement System’s holdings in Brighthouse Financial were worth $987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in shares of Brighthouse Financial during the 4th quarter valued at about $826,000. Raymond James Financial Inc. purchased a new position in Brighthouse Financial in the 4th quarter valued at approximately $384,000. Corient Private Wealth LLC increased its holdings in Brighthouse Financial by 6.6% during the 4th quarter. Corient Private Wealth LLC now owns 11,895 shares of the company’s stock worth $571,000 after purchasing an additional 738 shares during the period. Xponance Inc. grew its stake in shares of Brighthouse Financial by 2.7% during the fourth quarter. Xponance Inc. now owns 6,860 shares of the company’s stock worth $330,000 after purchasing an additional 181 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Brighthouse Financial by 1.9% during the 4th quarter. Quantbot Technologies LP now owns 54,155 shares of the company’s stock worth $2,602,000 after acquiring an additional 1,006 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Stock Down 0.5%

BHF stock opened at $50.84 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $56.27 and its 200-day moving average is $55.48. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12. The firm has a market capitalization of $2.92 billion, a PE ratio of 6.10 and a beta of 0.88.

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

Wall Street Analyst Weigh In

BHF has been the subject of several recent research reports. Wall Street Zen downgraded shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Wells Fargo & Company lifted their target price on shares of Brighthouse Financial from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Morgan Stanley dropped 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 note on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on Brighthouse Financial from $56.00 to $63.00 and gave the stock an “underweight” rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Brighthouse Financial from $56.00 to $59.00 and gave the company a “market perform” rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.30.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction that occurred 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 owned 18,441 shares of the company’s stock, valued at approximately $1,097,423.91. The trade was a 13.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.