Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Corsair Capital Management L.P.

Corsair Capital Management L.P. decreased its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 35.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,027 shares of the company’s stock after selling 5,600 shares during the period. Corsair Capital Management L.P.’s holdings in Brighthouse Financial were worth $452,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BHF. American Century Companies Inc. boosted its stake in Brighthouse Financial by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after purchasing an additional 228,814 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Brighthouse Financial by 75.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after purchasing an additional 269,062 shares during the period. Millennium Management LLC boosted its stake in Brighthouse Financial by 278.0% during the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after purchasing an additional 206,116 shares during the period. Point72 Asset Management L.P. boosted its stake in Brighthouse Financial by 139.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after purchasing an additional 144,102 shares during the period. Finally, Algert Global LLC boosted its stake in Brighthouse Financial by 9.3% during the 3rd quarter. Algert Global LLC now owns 222,504 shares of the company’s stock worth $10,019,000 after purchasing an additional 19,022 shares during the period. 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 4,265 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the sale, the executive vice president now directly owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. This represents a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BHF. Keefe, Bruyette & Woods cut 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 price objective on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Barclays began coverage on shares of Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective for the company. Wells Fargo & Company upped 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. Finally, Piper Sandler upped their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.63.

Brighthouse Financial Stock Performance

Shares of BHF opened at $53.04 on Wednesday. The company has a 50-day simple moving average of $47.60 and a 200-day simple moving average of $45.59. The company has a current ratio of 0.92, a quick 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.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same quarter in the prior year, the business earned $4.18 EPS. On average, analysts predict that Brighthouse Financial, Inc. will post 18.44 earnings per share for the current year.

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.