Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,837 shares of the company’s stock after selling 2,725 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Brighthouse Financial worth $1,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lighthouse Investment Partners LLC lifted its holdings in Brighthouse Financial by 204.6% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 135,730 shares of the company’s stock worth $5,883,000 after buying an additional 91,175 shares during the last quarter. Edgestream Partners L.P. lifted its stake in Brighthouse Financial by 12.7% during the second quarter. Edgestream Partners L.P. now owns 153,789 shares of the company’s stock worth $6,665,000 after purchasing an additional 17,329 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Brighthouse Financial in the second quarter valued at approximately $3,439,000. GSA Capital Partners LLP purchased a new position in Brighthouse Financial in the third quarter valued at approximately $1,311,000. Finally, Point72 Asset Management L.P. raised its holdings in Brighthouse Financial by 139.8% during the second quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after purchasing an additional 144,102 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BHF. Piper Sandler upped their target price on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays began coverage on Brighthouse Financial in a 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 Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company raised their price target on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. Finally, Evercore ISI reduced their price objective on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.63.

Insider Activity

In related news, EVP John Rosenthal sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total transaction of $226,100.00. Following the transaction, the executive vice president now owns 91,262 shares of the company’s stock, valued at $4,126,867.64. This represents a 5.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Brighthouse Financial Stock Up 2.1 %

Brighthouse Financial stock opened at $52.82 on Tuesday. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -2.60 and a beta of 1.05. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $47.60 and a two-hundred day moving average of $45.59. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same quarter last year, the business earned $4.18 earnings per share. As a group, research analysts expect that Brighthouse Financial, Inc. will post 18.44 earnings per share for the current year.

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.