The Manufacturers Life Insurance Company Sells 4,775 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

The Manufacturers Life Insurance Company trimmed its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,161 shares of the company’s stock after selling 4,775 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Brighthouse Financial worth $2,214,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Brighthouse Financial during the 2nd quarter worth approximately $388,000. Assenagon Asset Management S.A. acquired a new position in shares of Brighthouse Financial during the 2nd quarter worth approximately $3,439,000. Ingalls & Snyder LLC increased its holdings in shares of Brighthouse Financial by 63.0% during the second quarter. Ingalls & Snyder LLC now owns 24,453 shares of the company’s stock worth $1,060,000 after purchasing an additional 9,450 shares during the period. Range Financial Group LLC raised its position in shares of Brighthouse Financial by 7.8% in the second quarter. Range Financial Group LLC now owns 11,957 shares of the company’s stock valued at $518,000 after buying an additional 861 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Brighthouse Financial by 5.3% during the second quarter. Victory Capital Management Inc. now owns 30,027 shares of the company’s stock worth $1,301,000 after buying an additional 1,522 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Stock Down 0.4 %

Shares of BHF opened at $51.04 on Monday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -2.51 and a beta of 1.06. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $56.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day moving average of $49.01 and a 200-day moving average of $45.98.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same period in the previous year, the business posted $4.18 earnings per share. As a group, sell-side analysts anticipate that Brighthouse Financial, Inc. will post 18.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total value of $434,280.00. Following the sale, the executive vice president now directly owns 33,407 shares in the company, valued at $1,727,141.90. This represents a 20.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following the transaction, the executive vice president now owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. The trade was a 4.71 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on BHF. Barclays began coverage on Brighthouse Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 target price on the stock. Piper Sandler boosted their target price 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. Wells Fargo & Company lifted their price objective on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods dropped their price objective 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. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.63.

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.