Proficio Capital Partners LLC Purchases New Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Proficio Capital Partners LLC bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,198 shares of the company’s stock, valued at approximately $826,000.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp increased its position 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 acquiring an additional 50,441 shares during the period. Geode Capital Management LLC increased its position in shares of Brighthouse Financial by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company’s stock valued at $49,160,000 after acquiring an additional 8,004 shares during the period. Bank of New York Mellon Corp increased its position in shares of Brighthouse Financial by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 525,388 shares of the company’s stock valued at $25,240,000 after acquiring an additional 9,500 shares during the period. Two Sigma Advisers LP increased its position 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 acquiring an additional 35,800 shares during the period. Finally, Algert Global LLC increased its position in shares of Brighthouse Financial by 9.3% in the 3rd quarter. Algert Global LLC now owns 222,504 shares of the company’s stock valued at $10,019,000 after acquiring an additional 19,022 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 10,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the transaction, the executive vice president now owns 66,262 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BHF shares. JPMorgan Chase & Co. cut their target price on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on Brighthouse Financial from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised Brighthouse Financial from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $41.00 to $59.00 in a research report on Wednesday, February 19th. Jefferies Financial Group lowered Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research note on Monday, February 3rd. Finally, Barclays upgraded Brighthouse Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $85.00 in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.14.

Brighthouse Financial Stock Down 1.3 %

Brighthouse Financial stock opened at $54.21 on Friday. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12. The stock’s fifty day simple moving average is $54.97 and its 200-day simple moving average is $50.05. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.15 billion, a P/E ratio of 10.51 and a beta of 1.11.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. As a group, equities analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

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.