Point72 Asset Management L.P. Boosts Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Point72 Asset Management L.P. raised its position in Brighthouse Financial, Inc. (NASDAQ:BHF) by 139.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 247,210 shares of the company’s stock after acquiring an additional 144,102 shares during the period. Point72 Asset Management L.P. owned approximately 0.40% of Brighthouse Financial worth $10,714,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its holdings in Brighthouse Financial by 0.3% during the first quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock worth $4,155,000 after acquiring an additional 211 shares during the period. US Bancorp DE increased its holdings in Brighthouse Financial by 0.6% in the first quarter. US Bancorp DE now owns 35,695 shares of the company’s stock valued at $1,840,000 after buying an additional 211 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of 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 acquiring an additional 400 shares during the period. Headlands Technologies LLC boosted its stake in shares of Brighthouse Financial by 4.5% during the 2nd quarter. Headlands Technologies LLC now owns 15,686 shares of the company’s stock worth $680,000 after acquiring an additional 669 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in Brighthouse Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,192 shares of the company’s stock valued at $2,896,000 after purchasing an additional 727 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Up 0.9 %

Shares of Brighthouse Financial stock opened at $45.03 on Tuesday. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $56.24. The company has a fifty day moving average price of $44.54 and a 200 day moving average price of $45.76. 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 stock has a market cap of $2.80 billion, a price-to-earnings ratio of -2.37 and a beta of 1.06.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) 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 negative net margin of 22.03% and a positive return on equity of 26.22%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.13 earnings per share. Equities research analysts forecast that Brighthouse Financial, Inc. will post 18.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BHF has been the subject of a number of research analyst reports. Evercore ISI dropped their price target on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Barclays started coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective for the company. Keefe, Bruyette & Woods dropped their price target 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. upped their price objective on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. Finally, Piper Sandler decreased their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and an average target price of $50.25.

Insider Activity

In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now directly owns 96,262 shares in the company, valued at approximately $4,428,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP John Rosenthal sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares of the company’s stock, valued at $4,428,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 42,125 shares of company stock worth $1,895,248 over the last ninety 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.