EntryPoint Capital LLC Makes New $110,000 Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

EntryPoint Capital LLC acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the first quarter, HoldingsChannel reports. The firm acquired 2,141 shares of the company’s stock, valued at approximately $110,000.

A number of other institutional investors have also recently made changes to their positions in BHF. MQS Management LLC bought a new position in Brighthouse Financial during the first quarter valued at approximately $406,000. Seven Eight Capital LP increased its stake in Brighthouse Financial by 342.1% in the 1st quarter. Seven Eight Capital LP now owns 28,063 shares of the company’s stock worth $1,446,000 after acquiring an additional 21,716 shares during the last quarter. Edgestream Partners L.P. raised its holdings 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 acquiring an additional 118,441 shares in the last quarter. Private Management Group Inc. boosted its position in shares of Brighthouse Financial by 1.9% during the 1st quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock valued at $17,559,000 after acquiring an additional 6,496 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Brighthouse Financial by 39.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company’s stock valued at $4,359,000 after purchasing an additional 23,922 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms recently issued reports on BHF. Piper Sandler decreased their price target on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company decreased their target price on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Evercore ISI dropped their price target on Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Jefferies Financial Group boosted their price objective on Brighthouse Financial from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their price objective on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.56.

Brighthouse Financial Stock Performance

Shares of NASDAQ:BHF opened at $49.10 on Friday. The business has a 50 day simple moving average of $44.48 and a two-hundred day simple moving average of $47.50. Brighthouse Financial, Inc. has a 1 year low of $40.24 and a 1 year high of $56.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 0.83.

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