Seven Eight Capital LP Has $1.45 Million Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Seven Eight Capital LP raised its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 342.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 28,063 shares of the company’s stock after purchasing an additional 21,716 shares during the quarter. Seven Eight Capital LP’s holdings in Brighthouse Financial were worth $1,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Brighthouse Financial during the 4th quarter worth approximately $33,362,000. Algebris UK Ltd acquired a new stake in shares of Brighthouse Financial during the 1st quarter worth approximately $6,938,000. Edgestream Partners L.P. grew its position in shares of Brighthouse Financial by 657.3% during the 1st quarter. Edgestream Partners L.P. now owns 136,460 shares of the company’s stock worth $7,033,000 after buying an additional 118,441 shares during the period. Hsbc Holdings PLC grew its position in shares of Brighthouse Financial by 295.0% during the 4th quarter. Hsbc Holdings PLC now owns 147,825 shares of the company’s stock worth $7,869,000 after buying an additional 110,397 shares during the period. Finally, UBS Group AG grew its position in shares of Brighthouse Financial by 4.5% during the 4th quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock worth $56,200,000 after buying an additional 45,938 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF traded down $1.00 during mid-day trading on Wednesday, reaching $47.66. 286,217 shares of the company’s stock were exchanged, compared to its average volume of 447,790. Brighthouse Financial, Inc. has a 52 week low of $40.24 and a 52 week high of $56.24. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $44.34 and a two-hundred day moving average price of $47.53.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.29. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.86 EPS. Equities research analysts anticipate that Brighthouse Financial, Inc. will post 15.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BHF. JPMorgan Chase & Co. raised their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group increased their target price on Brighthouse Financial from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods upgraded Brighthouse Financial from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $48.00 to $47.00 in a report on Monday, June 17th. Piper Sandler cut their target price on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Wells Fargo & Company cut their target price on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.56.

Insider Buying and Selling

In other news, Director Michael J. Inserra acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $43.20 per share, with a total value of $108,000.00. Following the acquisition, the director now owns 5,500 shares in the company, valued at approximately $237,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael J. Inserra acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $43.20 per share, with a total value of $108,000.00. Following the acquisition, the director now owns 5,500 shares in the company, valued at approximately $237,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the sale, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.