Summit Trail Advisors LLC Purchases Shares of 8,287 Brighthouse Financial, Inc. (NASDAQ:BHF)

Summit Trail Advisors LLC acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the third quarter, HoldingsChannel reports. The institutional investor acquired 8,287 shares of the company’s stock, valued at approximately $373,000.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in Brighthouse Financial by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,823 shares of the company’s stock valued at $1,744,000 after acquiring an additional 1,804 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Brighthouse Financial by 216.0% in the 1st quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after purchasing an additional 2,581 shares during the last quarter. Algebris UK Ltd acquired a new stake in shares of Brighthouse Financial in the 1st quarter valued at about $6,938,000. Harbor Capital Advisors Inc. grew its stake in Brighthouse Financial by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,745 shares of the company’s stock worth $899,000 after buying an additional 2,076 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Brighthouse Financial during the second quarter worth approximately $388,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BHF. Piper Sandler increased their price objective on Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on shares of Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. Evercore ISI decreased their target price on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Finally, Barclays began coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price target on the stock. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.63.

Brighthouse Financial Stock Down 0.8 %

Shares of NASDAQ:BHF opened at $52.42 on Wednesday. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -2.58 and a beta of 1.05. Brighthouse Financial, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $56.24. The firm’s 50-day simple moving average is $47.60 and its 200-day simple moving average is $45.59. 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 earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $4.18 EPS. As a group, equities research analysts predict that Brighthouse Financial, Inc. will post 18.44 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 4,265 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction 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. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

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.