Bank of Montreal Can Has $4.26 Million Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Bank of Montreal Can lifted its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 11.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,132 shares of the company’s stock after purchasing an additional 9,711 shares during the quarter. Bank of Montreal Can owned approximately 0.16% of Brighthouse Financial worth $4,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BHF. EntryPoint Capital LLC bought a new stake in Brighthouse Financial in the first quarter worth $110,000. Central Pacific Bank Trust Division bought a new stake in shares of Brighthouse Financial during the 1st quarter worth about $169,000. EMC Capital Management increased its holdings in shares of Brighthouse Financial by 216.0% during the 1st quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after acquiring an additional 2,581 shares during the last quarter. Privium Fund Management B.V. raised its stake in shares of Brighthouse Financial by 16.9% in the 1st quarter. Privium Fund Management B.V. now owns 5,712 shares of the company’s stock valued at $294,000 after acquiring an additional 825 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Brighthouse Financial in the 1st quarter worth approximately $294,000. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Down 2.4 %

Shares of BHF opened at $43.95 on Wednesday. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $56.24. The firm has a market capitalization of $2.73 billion, a P/E ratio of -2.31 and a beta of 1.06. The company has a 50-day simple moving average of $44.45 and a 200-day simple moving average of $45.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. The company 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%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $4.13 EPS. On average, equities research analysts expect that Brighthouse Financial, Inc. will post 18.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP John Rosenthal sold 5,000 shares of the 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 owns 96,262 shares in the company, valued at approximately $4,428,052. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total value of $297,397.50. Following the sale, the chief financial officer now owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Rosenthal sold 5,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares of the company’s stock, valued at $4,428,052. The disclosure for this sale can be found here. Insiders have sold 42,125 shares of company stock worth $1,895,248 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. 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 report on Tuesday, July 2nd. Barclays assumed coverage on shares of Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company downgraded Brighthouse Financial from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $51.00 to $40.00 in a research report on Monday, August 12th. Finally, Piper Sandler cut their price objective on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.25.

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.