KLP Kapitalforvaltning AS Acquires New Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

KLP Kapitalforvaltning AS bought a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,900 shares of the company’s stock, valued at approximately $620,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in shares of Brighthouse Financial by 2,632.8% in the fourth quarter. Victory Capital Management Inc. now owns 884,162 shares of the company’s stock worth $42,475,000 after purchasing an additional 851,808 shares during the period. American Century Companies Inc. grew its holdings in Brighthouse Financial by 12.1% in the 4th quarter. American Century Companies Inc. now owns 1,682,076 shares of the company’s stock valued at $80,807,000 after buying an additional 181,980 shares during the last quarter. State Street Corp increased its position in Brighthouse Financial by 2.2% in the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company’s stock worth $104,240,000 after buying an additional 50,441 shares during the period. Ieq Capital LLC bought a new position in Brighthouse Financial in the 4th quarter worth approximately $1,748,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Brighthouse Financial by 12.6% during the third quarter. Two Sigma Advisers LP now owns 320,700 shares of the company’s stock worth $14,441,000 after buying an additional 35,800 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Trading Up 2.8 %

BHF stock opened at $59.78 on Thursday. The business has a fifty day moving average of $57.99 and a 200-day moving average of $51.67. The company has a market cap of $3.47 billion, a P/E ratio of 11.59 and a beta of 0.91. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $5.88 EPS for the quarter, topping the consensus estimate of $4.56 by $1.32. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. As a group, equities research analysts expect that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Rosenthal sold 10,000 shares of Brighthouse Financial stock in a transaction 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 transaction, the executive vice president now directly owns 66,262 shares of the company’s stock, valued at $4,041,982. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group set a $72.00 target price on Brighthouse Financial in a research report on Tuesday, March 18th. Raymond James raised Brighthouse Financial from a “market perform” rating to a “strong-buy” rating and set a $72.00 target price for the company in a research report on Tuesday, March 18th. Jefferies Financial Group lowered shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a report on Monday, February 3rd. 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 research note on Thursday, February 13th. Finally, Wells Fargo & Company upgraded shares of Brighthouse Financial from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $41.00 to $59.00 in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.80.

Brighthouse Financial 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.