Private Management Group Inc. Cuts Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Private Management Group Inc. lessened its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 336,105 shares of the company’s stock after selling 3,116 shares during the quarter. Private Management Group Inc.’s holdings in Brighthouse Financial were worth $15,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BHF. UMB Bank n.a. grew its stake in shares of Brighthouse Financial by 974.1% during 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 during the last quarter. CWM LLC grew its stake in shares of Brighthouse Financial by 29.4% during the third quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after acquiring an additional 339 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Brighthouse Financial by 97.8% during 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. Quarry LP purchased a new stake in shares of Brighthouse Financial during the second quarter worth about $89,000. Finally, EntryPoint Capital LLC acquired a new position in Brighthouse Financial in the first quarter valued at approximately $110,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the transaction, the chief executive officer now owns 321,072 shares in the company, valued at approximately $14,663,358.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the sale, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at $14,663,358.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total value of $226,100.00. Following the completion of the sale, the executive vice president now directly owns 91,262 shares of the company’s stock, valued at $4,126,867.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,390 shares of company stock worth $1,861,608. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BHF shares. Piper Sandler boosted their price target on Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their target price on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods decreased their target price on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Barclays started coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 target price on the stock. Finally, 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 report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Brighthouse Financial has an average rating of “Hold” and an average price target of $50.63.

Brighthouse Financial Price Performance

BHF stock traded up $0.44 during midday trading on Friday, reaching $47.74. The stock had a trading volume of 415,799 shares, compared to its average volume of 426,442. The company’s fifty day simple moving average is $45.40 and its 200 day simple moving average is $45.38. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -3.00 and a beta of 1.06. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $56.24.

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, beating analysts’ consensus estimates of $4.36 by $1.21. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.13 EPS. As a group, sell-side analysts predict that Brighthouse Financial, Inc. will post 18.64 earnings per share for the current fiscal 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.