State of New Jersey Common Pension Fund D Sells 404 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

State of New Jersey Common Pension Fund D reduced its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,595 shares of the company’s stock after selling 404 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of Brighthouse Financial worth $1,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BHF. US Bancorp DE raised its position in shares of Brighthouse Financial by 0.9% during the 3rd quarter. US Bancorp DE now owns 35,755 shares of the company’s stock valued at $1,610,000 after buying an additional 319 shares in the last quarter. CWM LLC raised its position in Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after purchasing an additional 339 shares during the period. Creative Planning raised its position in Brighthouse Financial by 5.7% in the 3rd quarter. Creative Planning now owns 7,843 shares of the company’s stock worth $353,000 after purchasing an additional 420 shares during the period. UMB Bank n.a. raised its position in Brighthouse Financial by 974.1% in the 3rd quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after purchasing an additional 565 shares during the period. Finally, nVerses Capital LLC raised its position in Brighthouse Financial by 24.0% in the 3rd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock worth $140,000 after purchasing an additional 600 shares during the period. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $50.97 on Monday. Brighthouse Financial, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $56.24. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -2.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.92. The firm has a fifty day moving average price of $46.52 and a 200 day moving average price of $45.48.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate 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 earned $4.18 earnings per share. As a group, sell-side analysts expect that Brighthouse Financial, Inc. will post 18.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s 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 transaction, the chief executive officer now owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the completion of the transaction, the executive vice president now directly owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. The trade was a 4.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,265 shares of company stock valued at $1,564,211. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BHF shares. Keefe, Bruyette & Woods decreased their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Jefferies Financial Group boosted their price objective 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. Piper Sandler boosted their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Finally, Evercore ISI cut their target price on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and a consensus target price of $50.63.

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.