Truist Financial Corp Has $328,000 Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Truist Financial Corp lifted its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 20.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,578 shares of the company’s stock after buying an additional 1,262 shares during the quarter. Truist Financial Corp’s holdings in Brighthouse Financial were worth $328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Range Financial Group LLC raised its position in shares of Brighthouse Financial by 18.0% in the first quarter. Range Financial Group LLC now owns 11,096 shares of the company’s stock valued at $572,000 after buying an additional 1,693 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Brighthouse Financial by 11.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 87,859 shares of the company’s stock valued at $4,528,000 after acquiring an additional 9,300 shares during the period. State of Michigan Retirement System grew its holdings 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 worth $813,000 after purchasing an additional 400 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brighthouse Financial by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 241,938 shares of the company’s stock worth $12,469,000 after purchasing an additional 5,743 shares in the last quarter. Finally, Privium Fund Management B.V. increased its position in shares of Brighthouse Financial by 16.9% in the first quarter. Privium Fund Management B.V. now owns 5,712 shares of the company’s stock worth $294,000 after purchasing an additional 825 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Stock Up 0.5 %

Shares of NASDAQ:BHF opened at $49.15 on Friday. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $56.24. The company has a market capitalization of $3.05 billion, a PE ratio of -2.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average of $44.34 and a 200-day moving average of $45.49.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the firm earned $4.13 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Brighthouse Financial, Inc. will post 18.52 EPS for the current fiscal year.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at $14,663,358.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following the completion of the transaction, the executive vice president now directly owns 86,262 shares in the company, valued at $3,971,502.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the transaction, the chief executive officer now directly owns 321,072 shares in the company, valued at approximately $14,663,358.24. 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 in the last quarter. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BHF shares. Keefe, Bruyette & Woods reduced their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. Evercore ISI reduced their price target on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. Piper Sandler boosted their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Barclays initiated coverage on Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 target price on the stock. Finally, Wells Fargo & Company boosted 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. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.63.

Brighthouse Financial Company 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.