American International Group Inc. Sells 5,567 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

American International Group Inc. reduced its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,789 shares of the company’s stock after selling 5,567 shares during the quarter. American International Group Inc. owned 0.14% of Brighthouse Financial worth $4,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Brighthouse Financial in the fourth quarter valued at about $33,362,000. Royal Bank of Canada lifted its holdings in Brighthouse Financial by 29.7% in the third quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock valued at $101,496,000 after acquiring an additional 475,327 shares during the period. Lazard Asset Management LLC lifted its holdings in Brighthouse Financial by 80.5% in the third quarter. Lazard Asset Management LLC now owns 315,763 shares of the company’s stock valued at $15,452,000 after acquiring an additional 140,796 shares during the period. American Century Companies Inc. lifted its holdings in Brighthouse Financial by 21.8% in the third quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock valued at $32,663,000 after acquiring an additional 119,345 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Brighthouse Financial by 295.0% in the fourth quarter. Hsbc Holdings PLC now owns 147,825 shares of the company’s stock valued at $7,869,000 after acquiring an additional 110,397 shares during the period. 81.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BHF shares. Wells Fargo & Company lowered 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. Piper Sandler decreased their price objective on Brighthouse Financial from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Finally, Keefe, Bruyette & Woods raised Brighthouse Financial from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $48.00 to $47.00 in a research note on Monday, June 17th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.86.

Brighthouse Financial Stock Up 0.0 %

Shares of BHF opened at $43.07 on Friday. The business’s 50 day moving average is $45.45 and its 200 day moving average is $48.72. The company has a market capitalization of $2.68 billion, a PE ratio of -2.26 and a beta of 1.08. Brighthouse Financial, Inc. has a 12-month low of $40.24 and a 12-month 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.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.29. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.14 billion. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.86 EPS. Research analysts expect that Brighthouse Financial, Inc. will post 16.29 earnings per share for the current fiscal year.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the firm’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 transaction of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the firm’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 transaction of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Inserra purchased 2,500 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average price of $43.20 per share, with a total value of $108,000.00. Following 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. 1.40% of the stock is owned by corporate insiders.

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.