Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,173 shares of the company’s stock, valued at approximately $1,404,000.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings 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. Harbor Capital Advisors Inc. lifted its stake in shares of Brighthouse Financial by 11.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,745 shares of the company’s stock valued at $899,000 after purchasing an additional 2,076 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Brighthouse Financial during the 2nd quarter worth $388,000. Assenagon Asset Management S.A. purchased a new position in shares of Brighthouse Financial during the 2nd quarter worth $3,439,000. Finally, Ingalls & Snyder LLC increased its position in shares of Brighthouse Financial by 63.0% during the 2nd quarter. Ingalls & Snyder LLC now owns 24,453 shares of the company’s stock worth $1,060,000 after purchasing an additional 9,450 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 4,265 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the completion of the transaction, the executive vice president now owns 86,262 shares in the company, valued at approximately $3,971,502.48. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Brighthouse Financial Stock Performance

NASDAQ:BHF opened at $52.27 on Monday. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -2.57 and a beta of 1.05. 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, Inc. has a 52 week low of $40.00 and a 52 week high of $56.24. The company has a fifty day simple moving average of $48.29 and a two-hundred day simple moving average of $45.77.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 23.54% and a negative net margin of 24.40%. During the same quarter last year, the company earned $4.18 EPS. As a group, equities analysts anticipate that Brighthouse Financial, Inc. will post 18.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.