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

Proficio Capital Partners LLC acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,198 shares of the company’s stock, valued at approximately $826,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV raised its position in Brighthouse Financial by 30.2% during the third quarter. KBC Group NV now owns 2,001 shares of the company’s stock valued at $90,000 after purchasing an additional 464 shares in the last quarter. Lecap Asset Management Ltd. grew its stake in shares of Brighthouse Financial by 9.1% in the fourth quarter. Lecap Asset Management Ltd. now owns 5,234 shares of the company’s stock worth $251,000 after purchasing an additional 436 shares during the last quarter. Institute for Wealth Management LLC. bought a new stake in Brighthouse Financial during the 4th quarter valued at approximately $287,000. SG Americas Securities LLC bought a new stake in Brighthouse Financial during the 4th quarter valued at approximately $312,000. Finally, Vinva Investment Management Ltd bought a new stake in Brighthouse Financial during the 3rd quarter valued at approximately $361,000. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $57.98 on Friday. 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 stock has a market cap of $3.37 billion, a PE ratio of 11.24 and a beta of 1.11. The company has a 50-day moving average of $56.52 and a 200 day moving average of $50.77. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.12.

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

Insider Activity at Brighthouse Financial

In other news, EVP John Rosenthal sold 10,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president now owns 66,262 shares in the company, valued at approximately $4,041,982. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BHF shares. Morgan Stanley set a $52.00 price target on Brighthouse Financial in a research report on Friday, February 28th. UBS Group set a $72.00 price target on Brighthouse Financial in a report on Tuesday. Raymond James raised Brighthouse Financial from a “market perform” rating to a “strong-buy” rating and set a $72.00 price target on the stock in a report on Tuesday, March 18th. Piper Sandler upped their price objective on Brighthouse Financial from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Brighthouse Financial from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.80.

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.