Edgestream Partners L.P. Purchases 17,329 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Edgestream Partners L.P. raised its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,789 shares of the company’s stock after purchasing an additional 17,329 shares during the quarter. Edgestream Partners L.P. owned approximately 0.25% of Brighthouse Financial worth $6,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BHF. Retirement Systems of Alabama boosted its holdings in Brighthouse Financial by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock worth $4,155,000 after buying an additional 211 shares during the period. US Bancorp DE raised its stake in shares of Brighthouse Financial by 0.6% during the 1st quarter. US Bancorp DE now owns 35,695 shares of the company’s stock valued at $1,840,000 after purchasing an additional 211 shares during the period. Quadrant Capital Group LLC lifted its holdings in Brighthouse Financial by 36.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Brighthouse Financial by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,187 shares of the company’s stock worth $1,280,000 after purchasing an additional 388 shares during the period. Finally, State of Michigan Retirement System grew its holdings in Brighthouse Financial by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 15,768 shares of the company’s stock valued at $813,000 after buying an additional 400 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

BHF stock opened at $42.74 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.85 and a quick ratio of 0.85. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $56.24. The company has a market cap of $2.60 billion, a P/E ratio of -2.24 and a beta of 1.06. The firm has a 50-day moving average of $45.28 and a 200 day moving average of $45.93.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.13 earnings per share. On average, sell-side analysts forecast that Brighthouse Financial, Inc. will post 18.16 EPS for the current year.

Analysts Set New Price Targets

BHF has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Wells Fargo & Company cut Brighthouse Financial from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $51.00 to $40.00 in a research report on Monday, August 12th. Evercore ISI decreased their target price on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays assumed coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.44.

Insider Activity at Brighthouse Financial

In related news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following the sale, the chief financial officer now directly owns 37,640 shares of the company’s stock, valued at $1,571,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total value of $297,397.50. Following the transaction, the chief financial officer now directly owns 37,640 shares in the company, valued at approximately $1,571,093.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now directly owns 96,262 shares in the company, valued at $4,428,052. The disclosure for this sale can be found here. Insiders sold 42,125 shares of company stock valued at $1,895,248 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

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.