XTX Topco Ltd Increases Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

XTX Topco Ltd lifted its position in Brighthouse Financial, Inc. (NASDAQ:BHF) by 244.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,248 shares of the company’s stock after purchasing an additional 16,493 shares during the quarter. XTX Topco Ltd’s holdings in Brighthouse Financial were worth $1,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Brighthouse Financial by 21.9% in the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock valued at $55,210,000 after purchasing an additional 228,814 shares during the period. UBS Group AG grew its holdings in shares of Brighthouse Financial by 4.5% in the fourth quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock valued at $56,200,000 after purchasing an additional 45,938 shares during the period. Norges Bank purchased a new stake in shares of Brighthouse Financial in the fourth quarter valued at about $33,362,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Brighthouse Financial by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 441,234 shares of the company’s stock valued at $23,350,000 after purchasing an additional 8,471 shares during the period. Finally, Private Management Group Inc. grew its holdings in shares of Brighthouse Financial by 1.9% in the first quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock valued at $17,559,000 after purchasing an additional 6,496 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Down 0.7 %

Shares of BHF opened at $44.06 on Friday. The stock has a market capitalization of $2.74 billion, a PE ratio of -2.31 and a beta of 1.06. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $56.24. 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’s 50-day simple moving average is $45.06 and its 200-day simple moving average is $45.87.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating the consensus estimate of $4.36 by $1.21. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.13 earnings per share. Analysts forecast that Brighthouse Financial, Inc. will post 18.16 earnings per share for the current fiscal year.

Insider Activity at Brighthouse Financial

In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the executive vice president now owns 96,262 shares of the company’s stock, valued at $4,428,052. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’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 owns 321,072 shares of the company’s stock, valued at $14,663,358.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now directly owns 96,262 shares in the company, valued at approximately $4,428,052. The disclosure for this sale can be found here. Insiders have sold a total of 42,125 shares of company stock valued at $1,895,248 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BHF shares. Wells Fargo & Company lowered shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $51.00 to $40.00 in a research note on Monday, August 12th. Piper Sandler lowered their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Barclays started coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group increased their target price on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Three research 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 MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and a consensus target price of $50.25.

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.