Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 7.7% in the third quarter, Holdings Channel.com reports. The fund owned 32,837 shares of the company’s stock after selling 2,725 shares during the period. Mutual of America Capital Management LLC’s holdings in Brighthouse Financial were worth $1,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BHF. D. E. Shaw & Co. Inc. grew its stake in Brighthouse Financial by 75.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock valued at $27,027,000 after acquiring an additional 269,062 shares during the last quarter. American Century Companies Inc. grew its position 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 purchasing an additional 228,814 shares during the last quarter. Millennium Management LLC increased its stake in shares of Brighthouse Financial by 278.0% during the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after purchasing an additional 206,116 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of Brighthouse Financial by 3,362.1% during the 2nd 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 during the last quarter. Finally, Algebris UK Ltd purchased a new stake in Brighthouse Financial in the 1st quarter valued at approximately $6,938,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Trading Up 2.1 %

BHF stock opened at $52.82 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -2.60 and a beta of 1.05. The business has a fifty day simple moving average of $47.60 and a 200-day simple moving average of $45.59. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations 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 last year, the business earned $4.18 earnings per share. On average, equities research analysts expect that Brighthouse Financial, Inc. will post 18.44 EPS for the current year.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,126,867.64. This trade represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BHF has been the subject of several recent research reports. Piper Sandler raised their price target on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods cut their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Wells Fargo & Company raised their price target on shares of Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. Evercore ISI cut their price objective on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.63.

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.