Texas Permanent School Fund Corp Decreases Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Texas Permanent School Fund Corp cut its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,302 shares of the company’s stock after selling 7,890 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Brighthouse Financial worth $2,093,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Retirement Systems of Alabama raised its holdings in shares of Brighthouse Financial by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock valued at $4,155,000 after buying an additional 211 shares during the period. US Bancorp DE raised its stake in shares of Brighthouse Financial by 0.6% during the first quarter. US Bancorp DE now owns 35,695 shares of the company’s stock valued at $1,840,000 after purchasing an additional 211 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Brighthouse Financial by 36.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Brighthouse Financial by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,187 shares of the company’s stock valued at $1,280,000 after purchasing an additional 388 shares during the period. Finally, State of Michigan Retirement System grew its holdings in Brighthouse Financial by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 15,768 shares of the company’s stock valued at $813,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insider Buying and Selling

In related news, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the transaction, the chief financial officer now directly owns 37,640 shares in the company, valued at approximately $1,571,093.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the transaction, the chief financial officer now directly owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’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 transaction of $1,141,750.00. Following the completion of the sale, the chief executive officer now owns 321,072 shares in the company, valued at approximately $14,663,358.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,125 shares of company stock valued at $1,895,248. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $51.00 to $40.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their price objective on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group increased their target price on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Evercore ISI dropped their price target on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Finally, Barclays started coverage on shares of Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price target on the stock. Four 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’s stock. Based on data from MarketBeat, Brighthouse Financial currently has an average rating of “Hold” and an average price target of $49.44.

Brighthouse Financial Stock Up 1.1 %

Shares of NASDAQ:BHF opened at $43.23 on Wednesday. The company’s fifty day moving average is $45.28 and its two-hundred day moving average is $45.93. 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, Inc. has a 1-year low of $40.00 and a 1-year high of $56.24. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -2.27 and a beta of 1.06.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the business earned $4.13 earnings per share. Brighthouse Financial’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that Brighthouse Financial, Inc. will post 18.16 EPS for the current year.

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.