nVerses Capital LLC Boosts Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

nVerses Capital LLC grew its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 24.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,100 shares of the company’s stock after acquiring an additional 600 shares during the quarter. nVerses Capital LLC’s holdings in Brighthouse Financial were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of BHF. D. E. Shaw & Co. Inc. boosted its holdings in Brighthouse Financial by 75.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after acquiring an additional 269,062 shares during the last quarter. American Century Companies Inc. boosted its holdings in Brighthouse Financial by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after acquiring an additional 228,814 shares during the last quarter. Millennium Management LLC boosted its holdings in Brighthouse Financial by 278.0% during the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after acquiring an additional 206,116 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in Brighthouse Financial by 3,362.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock worth $6,854,000 after acquiring an additional 153,581 shares during the last quarter. Finally, Algebris UK Ltd purchased a new position in Brighthouse Financial during the 1st quarter worth $6,938,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BHF. Keefe, Bruyette & Woods cut their price target on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. Evercore ISI cut their price target on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Jefferies Financial Group boosted their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Piper Sandler boosted their price target on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and a consensus target price of $50.63.

Brighthouse Financial Trading Up 0.5 %

Shares of Brighthouse Financial stock opened at $49.15 on Friday. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $56.24. The stock’s 50-day simple moving average is $44.34 and its 200 day simple moving average is $45.45. The stock has a market capitalization of $3.05 billion, a P/E ratio of -2.58 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.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) 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 period in the previous year, the business posted $4.13 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Brighthouse Financial, Inc. will post 18.52 EPS for the current year.

Insider Activity

In other news, CFO Edward A. Spehar sold 7,125 shares of the company’s 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 sale, the chief financial officer now directly owns 37,640 shares in the company, valued at $1,571,093.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the sale, the executive vice president now directly owns 86,262 shares of the company’s stock, valued at $3,971,502.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 37,640 shares in the company, valued at $1,571,093.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,390 shares of company stock worth $1,861,608 over 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.