LSV Asset Management Lowers Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

LSV Asset Management lessened its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 185,513 shares of the company’s stock after selling 23,078 shares during the period. LSV Asset Management’s holdings in Brighthouse Financial were worth $8,040,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its position in Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $60,000 after purchasing an additional 303 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Brighthouse Financial in the 1st quarter valued at approximately $110,000. Central Pacific Bank Trust Division purchased a new stake in shares of Brighthouse Financial in the first quarter valued at approximately $169,000. EMC Capital Management grew its holdings 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 period. Finally, Innealta Capital LLC purchased a new position in Brighthouse Financial in the first quarter worth $294,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BHF. Jefferies Financial Group upped their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays assumed coverage on shares of Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 target price on the stock. Keefe, Bruyette & Woods reduced 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. JPMorgan Chase & Co. upped their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Finally, Piper Sandler reduced their price objective on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Four 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.44.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total value of $297,397.50. Following the completion of the transaction, the chief financial officer now directly owns 37,640 shares in the company, valued at approximately $1,571,093.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the transaction, the chief executive officer now directly owns 321,072 shares in the company, valued at approximately $14,663,358.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the business’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 owns 37,640 shares of the company’s stock, valued at $1,571,093.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,125 shares of company stock valued at $1,895,248. 1.40% of the stock is owned by insiders.

Brighthouse Financial Trading Down 0.8 %

Shares of BHF opened at $41.15 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.85 and a quick ratio of 0.85. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $56.24. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -2.16 and a beta of 1.06. The firm has a 50 day simple moving average of $45.33 and a 200-day simple moving average of $46.02.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the business posted $4.13 earnings per share. Brighthouse Financial’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Brighthouse Financial, Inc. will post 18.16 EPS for the current fiscal year.

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.