Summit Global Investments Increases Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Summit Global Investments lifted its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,691 shares of the company’s stock after acquiring an additional 1,946 shares during the quarter. Summit Global Investments’ holdings in Brighthouse Financial were worth $1,307,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. First Trust Direct Indexing L.P. bought a new stake in Brighthouse Financial in the fourth quarter valued at about $206,000. Victory Capital Management Inc. increased its holdings in Brighthouse Financial by 138.5% in the fourth quarter. Victory Capital Management Inc. now owns 27,007 shares of the company’s stock valued at $1,429,000 after buying an additional 15,682 shares during the last quarter. Headlands Technologies LLC increased its holdings in Brighthouse Financial by 4.8% in the fourth quarter. Headlands Technologies LLC now owns 9,012 shares of the company’s stock valued at $477,000 after buying an additional 412 shares during the last quarter. Bfsg LLC bought a new stake in Brighthouse Financial in the fourth quarter valued at about $167,000. Finally, GAMMA Investing LLC bought a new stake in Brighthouse Financial in the fourth quarter valued at about $60,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BHF. Morgan Stanley lowered Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective for the company. in a research report on Friday, February 23rd. Wells Fargo & Company boosted their price objective on Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Piper Sandler boosted their price objective on Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $50.00 price objective on shares of Brighthouse Financial in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.14.

Insider Transactions at Brighthouse Financial

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.96, for a total value of $1,174,000.00. Following the completion of the sale, the chief executive officer now owns 390,765 shares of the company’s stock, valued at $18,350,324.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.96, for a total value of $1,174,000.00. Following the completion of the sale, the chief executive officer now owns 390,765 shares of the company’s stock, valued at $18,350,324.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.85, for a total value of $468,500.00. Following the sale, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Brighthouse Financial Trading Up 1.0 %

Shares of BHF traded up $0.49 during trading hours on Friday, hitting $48.99. 622,198 shares of the company were exchanged, compared to its average volume of 450,880. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day simple moving average of $48.44 and a 200-day simple moving average of $49.80. Brighthouse Financial, Inc. has a one year low of $39.24 and a one year high of $56.24.

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