Institute for Wealth Management LLC. Buys New Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Institute for Wealth Management LLC. bought a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,978 shares of the company’s stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BHF. AQR Capital Management LLC grew its position in Brighthouse Financial by 11.7% during the second quarter. AQR Capital Management LLC now owns 172,958 shares of the company’s stock valued at $7,496,000 after acquiring an additional 18,082 shares during the last quarter. Millennium Management LLC grew its position in Brighthouse Financial by 278.0% during the second quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock valued at $12,147,000 after acquiring an additional 206,116 shares during the last quarter. Truist Financial Corp grew its position in Brighthouse Financial by 20.0% during the second quarter. Truist Financial Corp now owns 7,578 shares of the company’s stock valued at $328,000 after acquiring an additional 1,262 shares during the last quarter. GAMMA Investing LLC grew its position in Brighthouse Financial by 97.8% during the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock valued at $78,000 after acquiring an additional 855 shares during the last quarter. Finally, CWM LLC grew its position in Brighthouse Financial by 29.4% during the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Brighthouse Financial

In other news, EVP Myles Lambert sold 8,400 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total transaction of $434,280.00. Following the sale, the executive vice president now owns 33,407 shares in the company, valued at approximately $1,727,141.90. The trade was a 20.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

BHF has been the topic of a number of recent research reports. Piper Sandler reduced their price target on shares of Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Brighthouse Financial from $48.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Barclays raised shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $85.00 in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and an average price target of $57.63.

Brighthouse Financial Stock Up 0.7 %

Shares of Brighthouse Financial stock opened at $61.71 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $50.30 and its two-hundred day simple moving average is $47.72. The company has a market cap of $3.66 billion, a P/E ratio of -3.04 and a beta of 1.08. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.00.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same period in the previous year, the firm posted $4.18 earnings per share. Research analysts anticipate that Brighthouse Financial, Inc. will post 18.2 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.