Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Purchased by Seven Eight Capital LP

Seven Eight Capital LP boosted its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,553 shares of the company’s stock after buying an additional 1,490 shares during the period. Seven Eight Capital LP’s holdings in Brighthouse Financial were worth $1,281,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its position in Brighthouse Financial by 12.7% during the 2nd quarter. Edgestream Partners L.P. now owns 153,789 shares of the company’s stock worth $6,665,000 after purchasing an additional 17,329 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Brighthouse Financial by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 40,032 shares of the company’s stock worth $1,735,000 after buying an additional 3,681 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Brighthouse Financial by 13.3% in the 2nd quarter. Federated Hermes Inc. now owns 15,148 shares of the company’s stock valued at $657,000 after buying an additional 1,783 shares during the period. American Century Companies Inc. boosted its stake in shares of 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 buying an additional 228,814 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in Brighthouse Financial by 4.5% during the second quarter. Headlands Technologies LLC now owns 15,686 shares of the company’s stock worth $680,000 after acquiring an additional 669 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Up 2.7 %

Shares of NASDAQ BHF opened at $44.36 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50-day moving average is $45.21 and its two-hundred day moving average is $45.89. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $56.24. The company has a market capitalization of $2.76 billion, a PE ratio of -2.33 and a beta of 1.06.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, beating analysts’ consensus estimates of $4.36 by $1.21. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. Brighthouse Financial’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.13 EPS. Equities analysts anticipate that Brighthouse Financial, Inc. will post 18.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on BHF. Wells Fargo & Company downgraded Brighthouse Financial from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $51.00 to $40.00 in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Piper Sandler lowered their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group lifted their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods decreased their price target on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. Four 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 company’s stock. According to data from MarketBeat, Brighthouse Financial currently has an average rating of “Hold” and a consensus price target of $49.44.

Insider Activity at Brighthouse Financial

In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the transaction, the chief executive officer now owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the sale, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Rosenthal sold 5,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total value of $226,100.00. Following the transaction, the executive vice president now directly owns 91,262 shares in the company, valued at approximately $4,126,867.64. The disclosure for this sale can be found here. Insiders have sold a total of 42,125 shares of company stock valued at $1,895,248 over the last quarter. 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.