Peapack Gladstone Financial Corp Lowers Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Peapack Gladstone Financial Corp trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 25.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,713 shares of the company’s stock after selling 1,938 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Brighthouse Financial were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in BHF. UMB Bank n.a. boosted its holdings in 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 purchasing an additional 565 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after buying an additional 564 shares in the last quarter. CWM LLC boosted its stake in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after buying an additional 339 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock valued at $78,000 after acquiring an additional 855 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Brighthouse Financial during the second quarter valued at approximately $89,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BHF. Piper Sandler raised their target price on Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays lifted their price objective on shares of Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Brighthouse Financial currently has a consensus rating of “Hold” and an average target price of $51.13.

Insider Buying and Selling

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the sale, the executive vice president now directly owns 33,407 shares in the company, valued at $1,727,141.90. This represents a 20.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Rosenthal sold 4,265 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the transaction, the executive vice president now owns 86,262 shares of the company’s stock, valued at $3,971,502.48. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $49.68 on Tuesday. The firm has a market cap of $2.95 billion, a P/E ratio of -2.44 and a beta of 1.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $49.55 and its 200-day moving average is $46.24. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $54.73.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm earned $4.18 EPS. Sell-side analysts predict that Brighthouse Financial, Inc. will post 18.47 earnings per share 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.