Headlands Technologies LLC Trims Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Headlands Technologies LLC reduced its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,424 shares of the company’s stock after selling 2,067 shares during the period. Headlands Technologies LLC’s holdings in Brighthouse Financial were worth $885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BHF. Franklin Resources Inc. acquired a new stake in Brighthouse Financial during the fourth quarter worth about $258,000. Alliancebernstein L.P. boosted its position in Brighthouse Financial by 41.5% in the 4th quarter. Alliancebernstein L.P. now owns 114,984 shares of the company’s stock worth $5,524,000 after purchasing an additional 33,716 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Brighthouse Financial in the 4th quarter worth approximately $1,694,000. New Age Alpha Advisors LLC acquired a new stake in shares of Brighthouse Financial during the 4th quarter worth approximately $430,000. Finally, Norges Bank acquired a new position in shares of Brighthouse Financial in the 4th quarter valued at $37,131,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insider Activity at Brighthouse Financial

In related news, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president now owns 66,262 shares of the company’s stock, valued at approximately $4,041,982. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Brighthouse Financial Trading Up 2.8 %

Shares of BHF opened at $59.78 on Thursday. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12. The stock has a market cap of $3.47 billion, a PE ratio of 11.59 and a beta of 0.91. The firm’s fifty day moving average is $57.99 and its two-hundred day moving average is $51.67. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $1.32. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. Research analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BHF has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Brighthouse Financial from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler lifted their price target on Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Raymond James upgraded Brighthouse Financial from a “market perform” rating to a “strong-buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, March 18th. Finally, UBS Group set a $72.00 target price on Brighthouse Financial in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brighthouse Financial has an average rating of “Hold” and a consensus target price of $63.80.

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.