Creative Planning Has $322,000 Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Creative Planning lowered its position in Brighthouse Financial, Inc. (NASDAQ:BHF) by 18.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,423 shares of the company’s stock after selling 1,635 shares during the period. Creative Planning’s holdings in Brighthouse Financial were worth $322,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Alaska Permanent Fund Corp grew its stake in shares of Brighthouse Financial by 1.7% in the first quarter. Alaska Permanent Fund Corp now owns 52,642 shares of the company’s stock worth $2,713,000 after acquiring an additional 898 shares during the last quarter. Range Financial Group LLC grew its stake in shares of Brighthouse Financial by 18.0% in the first quarter. Range Financial Group LLC now owns 11,096 shares of the company’s stock worth $572,000 after acquiring an additional 1,693 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Brighthouse Financial by 11.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 87,859 shares of the company’s stock worth $4,528,000 after acquiring an additional 9,300 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Brighthouse Financial by 2.6% in the first quarter. State of Michigan Retirement System now owns 15,768 shares of the company’s stock worth $813,000 after acquiring an additional 400 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Brighthouse Financial by 2.4% in the first quarter. Principal Financial Group Inc. now owns 241,938 shares of the company’s stock worth $12,469,000 after acquiring an additional 5,743 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Trading Up 1.6 %

Shares of Brighthouse Financial stock opened at $48.91 on Friday. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $56.24. The stock has a market cap of $3.04 billion, a P/E ratio of -2.57 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $44.20 and its 200-day moving average is $45.50.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the business earned $4.13 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts predict that Brighthouse Financial, Inc. will post 18.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

BHF has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Evercore ISI reduced their target price on 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. Wells Fargo & Company raised their target price on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Barclays assumed coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 target price for the company. Finally, Piper Sandler raised their target price on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.63.

Insiders Place Their Bets

In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total value of $226,100.00. Following the transaction, the executive vice president now owns 91,262 shares in the company, valued at approximately $4,126,867.64. 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 is accessible through this link. In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total value of $226,100.00. Following the sale, the executive vice president now directly owns 91,262 shares of the company’s stock, valued at $4,126,867.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the sale, the chief executive officer now directly owns 321,072 shares in the company, valued at $14,663,358.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,390 shares of company stock worth $1,861,608 in the last 90 days. Company insiders own 1.40% of the company’s stock.

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.