Louisiana State Employees Retirement System Sells 800 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Louisiana State Employees Retirement System reduced its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,800 shares of the company’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Brighthouse Financial were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of BHF. D. E. Shaw & Co. Inc. raised its holdings in Brighthouse Financial by 75.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after purchasing an additional 269,062 shares during the period. American Century Companies Inc. increased its holdings in Brighthouse Financial by 21.9% during the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after buying an additional 228,814 shares during the last quarter. Millennium Management LLC lifted its stake in Brighthouse Financial by 278.0% in the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock valued at $12,147,000 after purchasing an additional 206,116 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of Brighthouse Financial by 3,362.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock worth $6,854,000 after acquiring an additional 153,581 shares during the period. Finally, Algebris UK Ltd bought a new position in Brighthouse Financial during the first quarter worth $6,938,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.74, for a total value of $297,397.50. Following the transaction, the chief financial officer now owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP John Rosenthal sold 4,265 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the completion of the sale, the executive vice president now directly owns 86,262 shares in the company, valued at approximately $3,971,502.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.74, for a total transaction of $297,397.50. Following the transaction, the chief financial officer now directly owns 37,640 shares in the company, valued at approximately $1,571,093.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,390 shares of company stock worth $1,861,608. 1.40% of the stock is owned by corporate insiders.

Brighthouse Financial Trading Down 0.6 %

Shares of Brighthouse Financial stock opened at $47.46 on Tuesday. The firm has a market cap of $2.88 billion, a PE ratio of -2.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.85 and a quick ratio of 0.85. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $56.24. The stock has a fifty day moving average price of $45.40 and a 200-day moving average price of $45.36.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping the consensus estimate of $4.36 by $1.21. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.13 EPS. Equities research analysts anticipate that Brighthouse Financial, Inc. will post 18.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays started coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective on the stock. Jefferies Financial Group boosted 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. Evercore ISI dropped 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 report on Thursday, August 8th. Keefe, Bruyette & Woods reduced their price target on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Piper Sandler lifted their target price on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.63.

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.