Brighthouse Financial, Inc. (NASDAQ:BHF) Position Cut by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 51,744 shares of the company’s stock after selling 756 shares during the quarter. Alaska Permanent Fund Corp owned approximately 0.08% of Brighthouse Financial worth $2,738,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its position in Brighthouse Financial by 412.3% during the 4th quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock worth $29,000 after acquiring an additional 437 shares during the period. Blue Trust Inc. lifted its holdings in Brighthouse Financial by 123.2% in the 4th quarter. Blue Trust Inc. now owns 732 shares of the company’s stock worth $36,000 after purchasing an additional 404 shares during the last quarter. GAMMA Investing LLC bought a new position in Brighthouse Financial in the 4th quarter worth approximately $60,000. Quent Capital LLC increased its position in Brighthouse Financial by 23.0% in the 4th quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after buying an additional 382 shares during the period. Finally, Signaturefd LLC increased its position in Brighthouse Financial by 13.7% in the 4th quarter. Signaturefd LLC now owns 3,736 shares of the company’s stock worth $198,000 after buying an additional 450 shares during the period. 81.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BHF has been the topic of several recent analyst reports. Morgan Stanley lowered Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research note on Friday, February 23rd. Wells Fargo & Company upped their price target on Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Piper Sandler upped their price target on Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $50.00 price target on shares of Brighthouse Financial in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.14.

Insider Transactions at Brighthouse Financial

In related news, EVP Vonda Huss sold 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the sale, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at $1,268,698. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brighthouse Financial news, EVP Vonda Huss sold 10,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the transaction, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at $1,268,698. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.96, for a total value of $1,174,000.00. Following the transaction, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at $18,350,324.40. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Brighthouse Financial Stock Performance

Shares of BHF traded up $0.60 during mid-day trading on Wednesday, reaching $50.50. The company’s stock had a trading volume of 892,389 shares, compared to its average volume of 427,115. Brighthouse Financial, Inc. has a 1-year low of $39.24 and a 1-year high of $56.24. The business has a 50-day simple moving average of $48.26 and a two-hundred day simple moving average of $49.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Tuesday, February 13th. The company reported $2.92 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.91). Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned $3.51 EPS. As a group, sell-side analysts expect that Brighthouse Financial, Inc. will post 17.12 earnings per share for the current fiscal year.

Brighthouse Financial 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.