Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,103 shares of the company’s stock after selling 32,903 shares during the period. Russell Investments Group Ltd. owned approximately 0.35% of Brighthouse Financial worth $11,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its stake in Brighthouse Financial by 21.8% during the 3rd quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after acquiring an additional 119,345 shares in the last quarter. Richard Bernstein Advisors LLC acquired a new stake in shares of Brighthouse Financial during the third quarter worth about $2,819,000. Lazard Asset Management LLC boosted its stake in shares of Brighthouse Financial by 80.5% in the third quarter. Lazard Asset Management LLC now owns 315,763 shares of the company’s stock valued at $15,452,000 after purchasing an additional 140,796 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Brighthouse Financial by 94.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 82,620 shares of the company’s stock valued at $4,043,000 after purchasing an additional 40,194 shares in the last quarter. Finally, Xponance Inc. increased its stake in Brighthouse Financial by 4.5% during the 3rd quarter. Xponance Inc. now owns 9,099 shares of the company’s stock worth $445,000 after buying an additional 394 shares during the period. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Brighthouse Financial Trading Up 1.0 %

NASDAQ:BHF opened at $48.99 on Friday. Brighthouse Financial, Inc. has a 1 year low of $39.24 and a 1 year high of $56.24. The stock has a market cap of $3.06 billion, a P/E ratio of -2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50-day simple moving average of $48.44 and a 200-day simple moving average of $49.80.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $2.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned $3.51 earnings per share. As a group, analysts anticipate that Brighthouse Financial, Inc. will post 17.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BHF has been the subject of several research reports. Wells Fargo & Company boosted their price target 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. Keefe, Bruyette & Woods restated an “underperform” rating and set a $50.00 price target on shares of Brighthouse Financial in a report on Friday, February 16th. Morgan Stanley cut Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective for the company. in a research note on Friday, February 23rd. Finally, Piper Sandler upped their target price on shares of Brighthouse Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, Brighthouse Financial presently has a consensus rating of “Hold” and an average price target of $51.14.

Insider Activity at Brighthouse Financial

In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at $18,350,324.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the transaction, the chief executive officer now owns 390,765 shares of the company’s stock, valued at $18,350,324.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Vonda Huss sold 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.85, for a total value of $468,500.00. Following the completion of the sale, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at $1,268,698. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

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.