Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lessened its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 34.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,148 shares of the company’s stock after selling 2,154 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Brighthouse Financial were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BHF. Lindbrook Capital LLC lifted its holdings in Brighthouse Financial by 412.3% during the fourth quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock valued at $29,000 after purchasing an additional 437 shares in the last quarter. Blue Trust Inc. lifted its holdings in Brighthouse Financial by 123.2% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock valued at $36,000 after purchasing an additional 404 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Brighthouse Financial by 36.1% during 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 in the last quarter. GAMMA Investing LLC purchased a new position in Brighthouse Financial during the fourth quarter valued at $60,000. Finally, Quent Capital LLC lifted its holdings in Brighthouse Financial by 23.0% during the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock valued at $108,000 after purchasing an additional 382 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BHF shares. Wells Fargo & Company decreased their price objective on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Evercore ISI decreased their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Piper Sandler decreased their price target on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Keefe, Bruyette & Woods raised shares of Brighthouse Financial from an “underperform” rating to a “market perform” rating and decreased their price target for the stock from $48.00 to $47.00 in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.44.

Brighthouse Financial Price Performance

Shares of BHF stock opened at $43.95 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50-day moving average is $44.68 and its two-hundred day moving average is $48.18. Brighthouse Financial, Inc. has a 12 month low of $40.24 and a 12 month high of $56.24. The company has a market capitalization of $2.73 billion, a PE ratio of -2.31 and a beta of 1.09.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.29. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the business earned $2.86 earnings per share. Analysts predict that Brighthouse Financial, Inc. will post 16.16 earnings per share for the current year.

Insider Activity at Brighthouse Financial

In related news, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares in the company, valued at $1,876,101.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Michael J. Inserra acquired 2,500 shares of Brighthouse Financial stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $43.20 per share, for a total transaction of $108,000.00. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at $237,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total transaction of $298,608.75. Following the sale, the chief financial officer now owns 44,765 shares of the company’s stock, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

About Brighthouse Financial

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.