Massachusetts Financial Services Co. MA Has $1.74 Million Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Massachusetts Financial Services Co. MA raised its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,032 shares of the company’s stock after buying an additional 3,681 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of Brighthouse Financial worth $1,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BHF. Quadrant Capital Group LLC increased its stake in shares of Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after acquiring an additional 303 shares during the last quarter. Norges Bank acquired a new position in Brighthouse Financial in the fourth quarter worth approximately $33,362,000. Hsbc Holdings PLC raised its position in Brighthouse Financial by 295.0% during 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 in the last quarter. TFO Wealth Partners LLC lifted its stake in Brighthouse Financial by 56,781.8% in the fourth quarter. TFO Wealth Partners LLC now owns 6,257 shares of the company’s stock valued at $331,000 after acquiring an additional 6,246 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its stake in shares of Brighthouse Financial by 5.4% during the 4th quarter. FinTrust Capital Advisors LLC now owns 31,390 shares of the company’s stock worth $1,661,000 after purchasing an additional 1,597 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Shares of BHF stock opened at $44.06 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day simple moving average is $45.06 and its 200 day simple moving average is $45.87. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $56.24. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -2.31 and a beta of 1.06.

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

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial 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 completion of the transaction, the chief financial officer now owns 37,640 shares in the company, valued at approximately $1,571,093.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial stock in a transaction on 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 sale, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 42,125 shares of company stock valued at $1,895,248 in the last three months. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BHF shares. Keefe, Bruyette & Woods decreased their target price on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. Piper Sandler reduced their price target on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Jefferies Financial Group boosted their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Evercore ISI reduced their target price on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Brighthouse Financial has a consensus rating of “Hold” and an average target price of $50.25.

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.