Louisiana State Employees Retirement System Lowers Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Louisiana State Employees Retirement System lessened its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,500 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Brighthouse Financial were worth $793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Joel Isaacson & Co. LLC acquired a new position in shares of Brighthouse Financial during the 4th quarter worth about $643,000. Lecap Asset Management Ltd. raised its position in shares of Brighthouse Financial by 9.1% during the 4th quarter. Lecap Asset Management Ltd. now owns 5,234 shares of the company’s stock worth $251,000 after purchasing an additional 436 shares during the last quarter. Institute for Wealth Management LLC. acquired a new position in shares of Brighthouse Financial during the 4th quarter worth about $287,000. KBC Group NV raised its position in shares of Brighthouse Financial by 33.1% during the 4th quarter. KBC Group NV now owns 2,664 shares of the company’s stock worth $128,000 after purchasing an additional 663 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Brighthouse Financial during the 4th quarter worth about $312,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Stock Up 1.1 %

Shares of NASDAQ BHF opened at $62.81 on Wednesday. The company has a 50 day simple moving average of $52.37 and a 200-day simple moving average of $48.68. The company has a market capitalization of $3.73 billion, a P/E ratio of -3.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $64.00.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly 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 negative net margin of 24.40% and a positive return on equity of 23.54%. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 18.2 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 transaction of $610,000.00. Following the completion of the transaction, the executive vice president now owns 66,262 shares of the company’s stock, valued at approximately $4,041,982. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Myles Lambert sold 8,400 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the transaction, the executive vice president now directly owns 33,407 shares of the company’s stock, valued at $1,727,141.90. The trade was a 20.09 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on BHF shares. JPMorgan Chase & Co. cut their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company cut their price objective on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Barclays upgraded shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $85.00 in a report on Wednesday, January 29th. Piper Sandler increased their price objective on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Brighthouse Financial from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and a consensus price target of $59.50.

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.