Creative Planning Cuts Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Creative Planning cut its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,423 shares of the company’s stock after selling 1,635 shares during the quarter. Creative Planning’s holdings in Brighthouse Financial were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BHF. EntryPoint Capital LLC purchased a new position in Brighthouse Financial during the 1st quarter worth $110,000. Central Pacific Bank Trust Division purchased a new position in Brighthouse Financial during the 1st quarter worth $169,000. EMC Capital Management grew its stake in Brighthouse Financial by 216.0% during the 1st quarter. EMC Capital Management now owns 3,776 shares of the company’s stock worth $195,000 after buying an additional 2,581 shares during the last quarter. Innealta Capital LLC acquired a new stake in Brighthouse Financial during the 1st quarter worth about $294,000. Finally, Privium Fund Management B.V. lifted its position in Brighthouse Financial by 16.9% during the 1st quarter. Privium Fund Management B.V. now owns 5,712 shares of the company’s stock worth $294,000 after acquiring an additional 825 shares during the period. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BHF has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Evercore ISI reduced their price target on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company upped their price target on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Barclays initiated coverage on Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price target for the company. Finally, Jefferies Financial Group upped their price target on Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.63.

Brighthouse Financial Stock Performance

NASDAQ:BHF opened at $48.91 on Friday. The firm has a 50 day simple moving average of $44.20 and a 200-day simple moving average of $45.50. 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 firm has a market cap of $3.04 billion, a PE ratio of -2.57 and a beta of 1.06. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results 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. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm earned $4.13 earnings per share. Brighthouse Financial’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Brighthouse Financial, Inc. will post 18.52 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the transaction, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the sale, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at $14,663,358.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $297,397.50. Following the completion of the sale, the chief financial officer now directly owns 37,640 shares in the company, valued at $1,571,093.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,390 shares of company stock worth $1,861,608 over the last ninety days. 1.40% of the stock is owned by company insiders.

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.