Retirement Systems of Alabama Lowers Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Retirement Systems of Alabama lessened its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 3.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,804 shares of the company’s stock after selling 2,856 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Brighthouse Financial worth $3,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in shares of Brighthouse Financial by 989.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after purchasing an additional 564 shares in the last quarter. UMB Bank n.a. boosted its holdings in Brighthouse Financial by 974.1% in the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after acquiring an additional 565 shares in the last quarter. CWM LLC boosted its holdings in Brighthouse Financial by 29.4% in the third quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after acquiring an additional 339 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after acquiring an additional 855 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after purchasing an additional 464 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Analysts Set New Price Targets

BHF has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Barclays raised their price target on shares of Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Piper Sandler lowered their price objective on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Brighthouse Financial presently has a consensus rating of “Hold” and a consensus target price of $51.75.

Brighthouse Financial Stock Up 1.4 %

BHF opened at $46.63 on Friday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -2.29 and a beta of 1.06. The firm has a 50 day moving average price of $49.68 and a 200-day moving average price of $46.27. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $54.73. 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 announced its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates 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 negative net margin of 24.40% and a positive return on equity of 23.54%. During the same quarter in the prior year, the firm posted $4.18 earnings per share. Equities research analysts forecast that Brighthouse Financial, Inc. will post 18.47 earnings per share for the current year.

Insider Activity at Brighthouse Financial

In other news, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial 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 transaction, the executive vice president now owns 86,262 shares in the company, valued at $3,971,502.48. This trade represents a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

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.