Thrivent Financial for Lutherans Reduces Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Thrivent Financial for Lutherans cut its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,939 shares of the company’s stock after selling 734 shares during the period. Thrivent Financial for Lutherans owned 0.09% of Brighthouse Financial worth $2,519,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BHF. KBC Group NV raised its stake in shares of Brighthouse Financial by 30.2% during the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock valued at $90,000 after purchasing an additional 464 shares during the period. MQS Management LLC bought a new stake in shares of Brighthouse Financial during the third quarter valued at about $277,000. Victory Capital Management Inc. lifted its holdings in shares of Brighthouse Financial by 7.7% in the third quarter. Victory Capital Management Inc. now owns 32,354 shares of the company’s stock worth $1,457,000 after buying an additional 2,327 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Brighthouse Financial in the third quarter valued at approximately $1,311,000. Finally, Entropy Technologies LP boosted its position in shares of Brighthouse Financial by 11.1% in the third quarter. Entropy Technologies LP now owns 13,016 shares of the company’s stock valued at $586,000 after acquiring an additional 1,300 shares during the period. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial stock in a transaction 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 transaction, the executive vice president now directly owns 86,262 shares of the company’s stock, valued at $3,971,502.48. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods cut 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 report on Wednesday, August 14th. Wells Fargo & Company boosted 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. Piper Sandler raised their price target on Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI cut their price objective on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a report on Thursday, August 8th. Finally, Barclays started coverage on shares of Brighthouse Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price objective on the stock. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.63.

Brighthouse Financial Stock Down 0.8 %

Shares of BHF opened at $52.42 on Wednesday. The firm has a market cap of $3.11 billion, a P/E ratio of -2.58 and a beta of 1.05. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $56.24. The stock has a 50 day simple moving average of $47.60 and a two-hundred day simple moving average of $45.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results 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 positive return on equity of 23.54% and a negative net margin of 24.40%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business earned $4.18 EPS. On average, analysts forecast that Brighthouse Financial, Inc. will post 18.44 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.