Brighthouse Financial, Inc. (NASDAQ:BHF) Stake Lessened by Private Management Group Inc.

Private Management Group Inc. trimmed its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 330,880 shares of the company’s stock after selling 5,225 shares during the quarter. Private Management Group Inc. owned approximately 0.56% of Brighthouse Financial worth $15,895,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in shares of Brighthouse Financial by 989.5% during the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after purchasing an additional 564 shares during the last quarter. UMB Bank n.a. raised its stake in Brighthouse Financial by 974.1% during the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock valued at $28,000 after buying an additional 565 shares in the last quarter. CWM LLC lifted its holdings in Brighthouse Financial by 29.4% during the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after buying an additional 339 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Brighthouse Financial by 97.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after acquiring an additional 855 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock valued at $90,000 after acquiring an additional 464 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BHF shares. Piper Sandler reduced their price objective on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price target on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Jefferies Financial Group downgraded Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a research note on Monday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and a consensus target price of $57.75.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $59.50 on Thursday. The stock has a market cap of $3.53 billion, a P/E ratio of -2.93 and a beta of 1.10. The firm’s 50-day simple moving average is $50.74 and its 200 day simple moving average is $47.95. Brighthouse Financial, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $64.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Thursday, November 7th. The company reported $3.99 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 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 quarter last year, the firm posted $4.18 earnings per share. Equities analysts expect that Brighthouse Financial, Inc. will post 18.2 EPS for the current year.

Insider Activity at Brighthouse Financial

In other news, EVP John Rosenthal sold 10,000 shares of Brighthouse Financial stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the transaction, the executive vice president now owns 66,262 shares of the company’s stock, valued at $4,041,982. The trade was a 13.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Myles Lambert sold 8,400 shares of the stock in a transaction that occurred 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 directly owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. This represents a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.