Lecap Asset Management Ltd. Takes $216,000 Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Lecap Asset Management Ltd. acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,798 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its stake in Brighthouse Financial by 11.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 87,859 shares of the company’s stock worth $4,528,000 after purchasing an additional 9,300 shares during the period. State of Michigan Retirement System increased its stake in Brighthouse Financial by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 15,768 shares of the company’s stock worth $813,000 after buying an additional 400 shares during the period. Principal Financial Group Inc. lifted its holdings in Brighthouse Financial by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 241,938 shares of the company’s stock worth $12,469,000 after buying an additional 5,743 shares in the last quarter. Privium Fund Management B.V. boosted its position in 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 buying an additional 825 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Brighthouse Financial by 0.3% during the first quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock worth $4,155,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BHF shares. Barclays began coverage on Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 target price for the company. Piper Sandler upped their target price on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods decreased their price target 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. Evercore ISI dropped their price objective on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price objective 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. Three equities research analysts have rated the stock with a sell rating, four have issued 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 a consensus price target of $50.63.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $48.92 on Friday. The company has a fifty day moving average of $44.91 and a two-hundred day moving average of $45.42. The company has a market capitalization of $3.04 billion, a PE ratio of -2.57 and a beta of 1.06. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $56.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.85 and a quick ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $1.21. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.13 EPS. As a group, analysts expect that Brighthouse Financial, Inc. will post 18.52 earnings per share for the current year.

Insider Transactions at Brighthouse Financial

In related news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the sale, the chief financial officer now owns 37,640 shares in the company, valued at $1,571,093.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP John Rosenthal sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total transaction of $226,100.00. Following the completion of the sale, the executive vice president now owns 91,262 shares in the company, valued at $4,126,867.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the transaction, the chief financial officer now owns 37,640 shares in the company, valued at approximately $1,571,093.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,390 shares of company stock worth $1,861,608. Insiders own 1.40% of the company’s stock.

Brighthouse Financial 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.