Pacer Advisors Inc. Trims Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Pacer Advisors Inc. lowered its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,459 shares of the company’s stock after selling 538 shares during the period. Pacer Advisors Inc.’s holdings in Brighthouse Financial were worth $599,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Millennium Management LLC increased its stake in shares of 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Brighthouse Financial by 102.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 160,399 shares of the company’s stock valued at $7,223,000 after purchasing an additional 81,040 shares in the last quarter. State Street Corp increased its stake in shares of Brighthouse Financial by 2.2% in the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company’s stock valued at $104,240,000 after purchasing an additional 50,441 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Brighthouse Financial by 12.6% in the 3rd quarter. Two Sigma Advisers LP now owns 320,700 shares of the company’s stock valued at $14,441,000 after purchasing an additional 35,800 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Brighthouse Financial during the 3rd quarter worth approximately $14,280,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Piper Sandler cut their price objective on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company cut their price objective on Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on Brighthouse Financial from $48.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays upgraded Brighthouse Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $52.00 to $85.00 in a research note on Wednesday, January 29th. 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.com, the company currently has an average rating of “Hold” and an average target price of $57.75.

Brighthouse Financial Trading Down 2.8 %

Shares of Brighthouse Financial stock opened at $59.98 on Tuesday. The stock has a market cap of $3.56 billion, a P/E ratio of -2.95 and a beta of 1.10. The stock’s 50 day simple moving average is $50.44 and its 200-day simple moving average is $47.78. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $64.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the company posted $4.18 earnings per share. Analysts predict that Brighthouse Financial, Inc. will post 18.2 EPS for the current fiscal year.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the executive vice president now owns 66,262 shares of the company’s stock, valued at $4,041,982. The trade was a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Myles Lambert sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the sale, the executive vice president now directly owns 33,407 shares in the company, valued at approximately $1,727,141.90. The trade was a 20.09 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by 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.