Centiva Capital LP Buys Shares of 8,557 Brighthouse Financial, Inc. (NASDAQ:BHF)

Centiva Capital LP acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the third quarter, Holdings Channel reports. The institutional investor acquired 8,557 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds also recently made changes to their positions in BHF. D. E. Shaw & Co. Inc. raised its position in shares of Brighthouse Financial by 75.9% during the second 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. raised its position in shares of Brighthouse Financial by 21.9% during the second 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 raised its position in shares of Brighthouse Financial by 278.0% during the second 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 raised its position in shares of Brighthouse Financial by 3,362.1% during the second 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, Point72 Asset Management L.P. raised its position in shares of Brighthouse Financial by 139.8% during the second quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after acquiring an additional 144,102 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BHF has been the subject of a number of analyst reports. Barclays initiated coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective for the company. Keefe, Bruyette & Woods decreased their target price 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. 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 note on Thursday, October 10th. 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 note on Wednesday, October 2nd. Three 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.63.

Insider Activity at Brighthouse Financial

In related news, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the transaction, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. The trade was a 20.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial stock in a transaction on Friday, October 11th. The stock was sold at an average price of $46.04, for a total value of $196,360.60. Following the sale, the executive vice president now owns 86,262 shares in the company, valued at $3,971,502.48. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Brighthouse Financial Trading Down 1.8 %

Shares of Brighthouse Financial stock opened at $50.10 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $56.24. The stock has a 50 day moving average price of $49.11 and a two-hundred day moving average price of $46.03. The stock has a market capitalization of $2.97 billion, a PE ratio of -2.46 and a beta of 1.06.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the business posted $4.18 EPS. As a group, equities analysts anticipate that Brighthouse Financial, Inc. will post 18.47 earnings per share for the current fiscal year.

Brighthouse Financial 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.