Venturi Wealth Management LLC Buys 564 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Venturi Wealth Management LLC boosted its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 989.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 621 shares of the company’s stock after acquiring an additional 564 shares during the quarter. Venturi Wealth Management LLC’s holdings in Brighthouse Financial were worth $28,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BHF. D. E. Shaw & Co. Inc. boosted its position in shares of Brighthouse Financial by 75.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after buying an additional 269,062 shares during the period. American Century Companies Inc. grew its stake in shares of Brighthouse Financial by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after acquiring an additional 228,814 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Brighthouse Financial by 278.0% in the second quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock valued at $12,147,000 after purchasing an additional 206,116 shares during the last quarter. Great Lakes Advisors LLC lifted its position in shares of Brighthouse Financial by 3,362.1% in 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, Algebris UK Ltd acquired a new position in Brighthouse Financial during the first quarter worth $6,938,000. Institutional investors own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BHF. Piper Sandler lifted their price target on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Barclays began 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. Jefferies Financial Group increased their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods dropped their price target 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.63.

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial 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 sale, the chief executive officer now owns 321,072 shares in the company, valued at $14,663,358.24. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Rosenthal sold 4,265 shares of the stock in a transaction that occurred 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 in the company, 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. Insiders sold a total of 34,265 shares of company stock worth $1,564,211 over the last quarter. Company insiders own 1.40% of the company’s stock.

Brighthouse Financial Trading Down 0.2 %

Shares of Brighthouse Financial stock opened at $50.97 on Friday. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $56.24. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -2.51 and a beta of 1.05. The business has a fifty day simple moving average of $46.52 and a two-hundred day simple moving average of $45.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.51). The company 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 period in the previous year, the firm posted $4.18 EPS. Research analysts forecast that Brighthouse Financial, Inc. will post 18.44 EPS for the current year.

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.