Quarry LP Makes New Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

Quarry LP acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF) in the second quarter, HoldingsChannel reports. The fund acquired 2,047 shares of the company’s stock, valued at approximately $89,000.

Other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Brighthouse Financial during the first quarter worth $110,000. Central Pacific Bank Trust Division bought a new position in Brighthouse Financial in the 1st quarter valued at about $169,000. EMC Capital Management lifted its position in Brighthouse Financial by 216.0% during the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock worth $195,000 after acquiring an additional 2,581 shares during the last quarter. Privium Fund Management B.V. grew its position in shares of Brighthouse Financial by 16.9% in the first quarter. Privium Fund Management B.V. now owns 5,712 shares of the company’s stock valued at $294,000 after purchasing an additional 825 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Brighthouse Financial in the 1st quarter valued at $294,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Stock Up 0.7 %

Shares of BHF opened at $44.25 on Thursday. 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 52 week low of $40.00 and a 52 week high of $56.24. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -2.32 and a beta of 1.06. The stock has a fifty day moving average of $44.45 and a 200-day moving average of $45.73.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, beating the consensus estimate of $4.36 by $1.21. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $4.13 earnings per share. As a group, sell-side analysts anticipate that Brighthouse Financial, Inc. will post 18.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BHF shares. Evercore ISI reduced their target price on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods dropped their price target on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Barclays started coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price target on the stock. Jefferies Financial Group lifted their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.50.

Insider Buying and Selling

In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $45.22, for a total value of $226,100.00. Following the completion of the transaction, the executive vice president now directly owns 91,262 shares in the company, valued at approximately $4,126,867.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Rosenthal sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $45.22, for a total value of $226,100.00. Following the completion of the sale, the executive vice president now owns 91,262 shares in the company, valued at approximately $4,126,867.64. The disclosure for this sale can be found here. Insiders have sold a total of 42,125 shares of company stock worth $1,895,248 in the last ninety days. Company insiders own 1.40% of the company’s stock.

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.