Marshall Wace LLP Sells 81,285 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Marshall Wace LLP trimmed its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 60.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,070 shares of the company’s stock after selling 81,285 shares during the quarter. Marshall Wace LLP owned 0.09% of Brighthouse Financial worth $2,300,000 as of its most recent filing with the Securities and Exchange Commission.

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

Brighthouse Financial Stock Performance

Shares of NASDAQ:BHF opened at $45.69 on Friday. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $56.24. The firm has a market cap of $2.84 billion, a PE ratio of -2.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85. The business has a fifty day moving average of $44.30 and a 200-day moving average of $45.71.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The company’s 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. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 18.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 96,262 shares in the company, valued at $4,428,052. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares in the company, valued at approximately $4,428,052. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the transaction, the chief executive officer now owns 321,072 shares in the company, valued at approximately $14,663,358.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,125 shares of company stock worth $1,895,248 over the last three months. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on BHF. Piper Sandler increased their price objective on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays began coverage on Brighthouse Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective for the company. Jefferies Financial Group increased their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Evercore ISI dropped their price objective on 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, Keefe, Bruyette & Woods dropped their price objective on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.50.

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.