State of Alaska Department of Revenue Sells 285 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

State of Alaska Department of Revenue lessened its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 4.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,771 shares of the company’s stock after selling 285 shares during the period. State of Alaska Department of Revenue’s holdings in Brighthouse Financial were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BHF. US Bancorp DE raised its position in shares of Brighthouse Financial by 0.9% during the 3rd quarter. US Bancorp DE now owns 35,755 shares of the company’s stock valued at $1,610,000 after purchasing an additional 319 shares during the period. CWM LLC boosted its stake in Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after purchasing an additional 339 shares during the period. Creative Planning grew its holdings in Brighthouse Financial by 5.7% during the 3rd quarter. Creative Planning now owns 7,843 shares of the company’s stock valued at $353,000 after buying an additional 420 shares in the last quarter. KBC Group NV lifted its stake in Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after purchasing an additional 464 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after purchasing an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BHF. Jefferies Financial Group downgraded shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Piper Sandler lifted their target price on Brighthouse Financial from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays raised Brighthouse Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $85.00 in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.75.

Brighthouse Financial Stock Performance

BHF opened at $62.14 on Friday. The company has a market cap of $3.69 billion, a P/E ratio of -3.06 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $51.84 and its 200-day moving average price is $48.47. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.00.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Tuesday, February 11th. The company reported $5.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. As a group, equities analysts anticipate that Brighthouse Financial, Inc. will post 18.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the sale, the executive vice president now owns 33,407 shares in the company, valued at approximately $1,727,141.90. This represents a 20.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Rosenthal sold 10,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president now directly owns 66,262 shares of the company’s stock, valued at approximately $4,041,982. This represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by 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.