Alaska Permanent Fund Corp Has $2.74 Million Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Alaska Permanent Fund Corp lowered its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,744 shares of the company’s stock after selling 756 shares during the period. Alaska Permanent Fund Corp’s holdings in Brighthouse Financial were worth $2,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Brighthouse Financial by 29.7% during the 3rd quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock valued at $101,496,000 after acquiring an additional 475,327 shares during the period. Lazard Asset Management LLC boosted its holdings in Brighthouse Financial by 80.5% in the 3rd quarter. Lazard Asset Management LLC now owns 315,763 shares of the company’s stock worth $15,452,000 after buying an additional 140,796 shares during the period. American Century Companies Inc. boosted its holdings in Brighthouse Financial by 21.8% in the 3rd quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after buying an additional 119,345 shares during the period. Richard Bernstein Advisors LLC bought a new position in Brighthouse Financial in the 3rd quarter worth approximately $2,819,000. Finally, Invesco Ltd. boosted its holdings in Brighthouse Financial by 12.7% in the 3rd quarter. Invesco Ltd. now owns 368,632 shares of the company’s stock worth $18,041,000 after buying an additional 41,495 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.96, for a total value of $1,174,000.00. Following the sale, the chief executive officer now owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the sale, the chief executive officer now owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the sale, the executive vice president now directly owns 27,080 shares in the company, valued at approximately $1,268,698. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on BHF. Piper Sandler raised their price objective on shares of Brighthouse Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Brighthouse Financial from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Morgan Stanley cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 target price on the stock. in a research note on Friday, February 23rd. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $50.00 target price on shares of Brighthouse Financial in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.14.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock traded up $0.60 on Wednesday, hitting $50.50. 892,389 shares of the company traded hands, compared to its average volume of 427,115. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80. Brighthouse Financial, Inc. has a 12-month low of $39.24 and a 12-month high of $56.24. The firm’s 50-day simple moving average is $48.26 and its 200 day simple moving average is $49.78.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Tuesday, February 13th. The company reported $2.92 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.91). Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $3.51 EPS. On average, analysts expect that Brighthouse Financial, Inc. will post 17.12 EPS for the current year.

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.