Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Purchased by Millennium Management LLC

Millennium Management LLC raised its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 278.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,270 shares of the company’s stock after purchasing an additional 206,116 shares during the period. Millennium Management LLC owned about 0.45% of Brighthouse Financial worth $12,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BHF. EntryPoint Capital LLC purchased a new position in Brighthouse Financial in the first quarter worth approximately $110,000. Central Pacific Bank Trust Division purchased a new stake in shares of Brighthouse Financial during the 1st quarter worth $169,000. EMC Capital Management grew its stake in shares of Brighthouse Financial by 216.0% during the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock worth $195,000 after purchasing an additional 2,581 shares in the last quarter. Privium Fund Management B.V. increased its holdings in Brighthouse Financial by 16.9% in the first quarter. Privium Fund Management B.V. now owns 5,712 shares of the company’s stock valued at $294,000 after buying an additional 825 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in Brighthouse Financial during the 1st quarter worth about $294,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $44.53 on Tuesday. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $56.24. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -2.34 and a beta of 1.06. The company has a 50-day simple moving average of $44.14 and a 200-day simple moving average of $45.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $4.13 EPS. On average, analysts predict that Brighthouse Financial, Inc. will post 18.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BHF shares. Piper Sandler increased their price objective on Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI reduced their price objective on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays assumed coverage on shares of Brighthouse Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and an average price target of $50.50.

Insider Buying and Selling at Brighthouse Financial

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the sale, the chief executive officer now owns 321,072 shares in the company, valued at approximately $14,663,358.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the completion of the transaction, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial 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 completion of the sale, the executive vice president now owns 96,262 shares in the company, valued at approximately $4,428,052. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,125 shares of company stock valued at $1,895,248. 1.40% of the stock is owned by company 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.