Massachusetts Financial Services Co. MA Boosts Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Massachusetts Financial Services Co. MA grew its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 5.6% in the third quarter, Holdings Channel reports. The institutional investor owned 42,291 shares of the company’s stock after purchasing an additional 2,259 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Brighthouse Financial were worth $1,904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. D. E. Shaw & Co. Inc. raised its position in shares of 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 in the last quarter. American Century Companies Inc. increased its stake in Brighthouse Financial by 21.9% in the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock valued at $55,210,000 after purchasing an additional 228,814 shares during the last quarter. Millennium Management LLC raised its holdings in 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 purchasing an additional 206,116 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in 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 purchasing an additional 153,581 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Brighthouse Financial by 139.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after buying an additional 144,102 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Brighthouse Financial Trading Down 0.2 %

NASDAQ:BHF opened at $52.33 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $47.78 and its 200-day simple moving average is $45.63. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $56.24. The firm has a market cap of $3.11 billion, a P/E ratio of -2.61 and a beta of 1.05.

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). The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same quarter in the previous year, the company posted $4.18 EPS. Equities analysts anticipate that Brighthouse Financial, Inc. will post 18.44 EPS for the current year.

Insider Activity at Brighthouse Financial

In related news, EVP John Rosenthal sold 4,265 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following the transaction, the executive vice president now owns 86,262 shares of the company’s stock, valued at $3,971,502.48. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on BHF shares. Wells Fargo & Company boosted their price target on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their target price on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. Evercore ISI decreased their target price on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Barclays started coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price target on the stock. Finally, Piper Sandler increased their price objective on Brighthouse Financial from $44.00 to $47.00 and gave the company 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.63.

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.