Private Management Group Inc. Cuts Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Private Management Group Inc. trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 336,105 shares of the company’s stock after selling 3,116 shares during the quarter. Private Management Group Inc. owned about 0.54% of Brighthouse Financial worth $15,135,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its position in Brighthouse Financial by 0.9% during the 3rd quarter. US Bancorp DE now owns 35,755 shares of the company’s stock valued at $1,610,000 after purchasing an additional 319 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Brighthouse Financial by 102.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 160,399 shares of the company’s stock valued at $7,223,000 after acquiring an additional 81,040 shares during the period. Bogart Wealth LLC lifted its stake in Brighthouse Financial by 2.8% during the 3rd quarter. Bogart Wealth LLC now owns 214,222 shares of the company’s stock valued at $9,646,000 after acquiring an additional 5,899 shares during the period. International Assets Investment Management LLC bought a new position in Brighthouse Financial during the 3rd quarter valued at about $14,280,000. Finally, Lecap Asset Management Ltd. bought a new position in Brighthouse Financial during the 3rd quarter valued at about $216,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Price Performance

BHF traded up $0.44 during trading on Friday, reaching $47.74. 415,799 shares of the company traded hands, compared to its average volume of 426,442. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $56.24. The firm has a fifty day simple moving average of $45.40 and a 200 day simple moving average of $45.38. The company has a market cap of $2.90 billion, a P/E ratio of -3.00 and a beta of 1.06.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the firm posted $4.13 earnings per share. Brighthouse Financial’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Brighthouse Financial, Inc. will post 18.64 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BHF shares. Wells Fargo & Company increased their price objective on shares of Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. Evercore ISI lowered 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 note on Thursday, August 8th. Jefferies Financial Group increased their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays initiated coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 target price on the stock. Finally, Piper Sandler raised 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. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and a consensus target price of $50.63.

Insider Activity at Brighthouse Financial

In related news, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the completion of the transaction, the executive vice president now directly owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the completion of the sale, the chief executive officer now directly owns 321,072 shares in the company, valued at approximately $14,663,358.24. This trade 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 can be accessed through this link. Also, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial stock in a transaction on Friday, October 11th. The stock was sold at an average price of $46.04, for a total value of $196,360.60. Following the sale, the executive vice president now owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. 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 sold 41,390 shares of company stock valued at $1,861,608. 1.40% of the stock is owned by corporate insiders.

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.