Arizona State Retirement System Sells 726 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Arizona State Retirement System decreased its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,311 shares of the company’s stock after selling 726 shares during the quarter. Arizona State Retirement System’s holdings in Brighthouse Financial were worth $969,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Quent Capital LLC boosted its holdings in Brighthouse Financial by 23.0% during the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after purchasing an additional 382 shares during the last quarter. Blue Trust Inc. boosted its holdings in Brighthouse Financial by 123.2% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock worth $36,000 after purchasing an additional 404 shares during the last quarter. Red Door Wealth Management LLC acquired a new position in Brighthouse Financial during the fourth quarter worth $202,000. Pacer Advisors Inc. lifted its stake in Brighthouse Financial by 76.7% in the fourth quarter. Pacer Advisors Inc. now owns 9,643 shares of the company’s stock valued at $510,000 after acquiring an additional 4,186 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Brighthouse Financial by 128.4% in the fourth quarter. SG Americas Securities LLC now owns 10,358 shares of the company’s stock valued at $548,000 after acquiring an additional 5,822 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BHF. Morgan Stanley cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target for the company. in a research note on Friday, February 23rd. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $50.00 price objective on shares of Brighthouse Financial in a research report on Friday, February 16th. Wells Fargo & Company increased their price objective on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Piper Sandler increased their price objective on shares of Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Brighthouse Financial presently has a consensus rating of “Hold” and a consensus target price of $51.14.

Insider Activity

In related news, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the sale, the executive vice president now directly owns 27,080 shares in the company, valued at approximately $1,268,698. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the sale, the executive vice president now directly owns 27,080 shares in the company, valued at approximately $1,268,698. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the sale, the chief executive officer now owns 390,765 shares in the company, valued at $18,350,324.40. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Brighthouse Financial Price Performance

BHF stock opened at $47.35 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.63. Brighthouse Financial, Inc. has a 12 month low of $39.24 and a 12 month high of $56.24. The firm has a market cap of $2.98 billion, a P/E ratio of -2.55 and a beta of 1.16. The company’s 50-day moving average price is $48.57 and its two-hundred day moving average price is $49.73.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $2.92 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted $3.51 earnings per share. On average, analysts anticipate that Brighthouse Financial, Inc. will post 17.05 earnings per share for the current fiscal 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.