DME Capital Management LP Has $128.85 Million Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

DME Capital Management LP lessened its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,973,031 shares of the company’s stock after selling 48,732 shares during the quarter. Brighthouse Financial comprises 6.3% of DME Capital Management LP’s investment portfolio, making the stock its 3rd biggest holding. DME Capital Management LP’s holdings in Brighthouse Financial were worth $128,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Brighthouse Financial by 11.7% in the 2nd quarter. AQR Capital Management LLC now owns 172,958 shares of the company’s stock valued at $7,496,000 after purchasing an additional 18,082 shares during the period. Caxton Associates LP increased its position in shares of Brighthouse Financial by 73.9% during the second quarter. Caxton Associates LP now owns 111,993 shares of the company’s stock worth $4,854,000 after acquiring an additional 47,587 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Brighthouse Financial by 462.4% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,756 shares of the company’s stock worth $336,000 after acquiring an additional 6,377 shares during the last quarter. Squarepoint Ops LLC lifted its position in Brighthouse Financial by 608.1% in the 2nd quarter. Squarepoint Ops LLC now owns 157,164 shares of the company’s stock valued at $6,811,000 after acquiring an additional 134,969 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Brighthouse Financial by 53.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 80,918 shares of the company’s stock valued at $3,507,000 after purchasing an additional 28,083 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Brighthouse Financial

In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the completion of the transaction, the chief executive officer now directly owns 321,072 shares in the company, valued at approximately $14,663,358.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,125 shares of company stock worth $1,895,248. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BHF shares. JPMorgan Chase & Co. increased their price target on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. 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. Wells Fargo & Company downgraded shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $51.00 to $40.00 in a research report on Monday, August 12th. Evercore ISI dropped their target price on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays initiated coverage on Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.25.

Brighthouse Financial Trading Up 0.5 %

Shares of BHF stock opened at $43.71 on Thursday. 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 firm has a market cap of $2.66 billion, a P/E ratio of -2.30 and a beta of 1.06. The company has a 50 day moving average of $44.75 and a 200-day moving average of $45.82. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. During the same period last year, the business posted $4.13 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Brighthouse Financial, Inc. will post 18.16 earnings per share for the current 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.