Brighthouse Financial, Inc. (NASDAQ:BHF) Position Cut by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 15.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 650,417 shares of the company’s stock after selling 120,551 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.05% of Brighthouse Financial worth $33,522,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama increased its holdings in shares of Brighthouse Financial by 0.3% during the first quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock valued at $4,155,000 after purchasing an additional 211 shares during the period. US Bancorp DE lifted its holdings in Brighthouse Financial by 0.6% in the first quarter. US Bancorp DE now owns 35,695 shares of the company’s stock worth $1,840,000 after purchasing an additional 211 shares during the period. Quadrant Capital Group LLC lifted its holdings in Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares during the period. Quent Capital LLC lifted its holdings in Brighthouse Financial by 23.0% in the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after purchasing an additional 382 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Brighthouse Financial by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,187 shares of the company’s stock worth $1,280,000 after purchasing an additional 388 shares during the period. Institutional investors own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

BHF has been the subject of several research analyst reports. Piper Sandler reduced their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Wells Fargo & Company reduced their price objective on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Jefferies Financial Group upped their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday. Keefe, Bruyette & Woods raised shares of Brighthouse Financial from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $48.00 to $47.00 in a report on Monday, June 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Brighthouse Financial currently has a consensus rating of “Hold” and an average target price of $52.00.

Insiders Place Their Bets

In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total transaction of $298,608.75. Following the sale, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Brighthouse Financial news, Director Michael J. Inserra bought 2,500 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $43.20 per share, for a total transaction of $108,000.00. Following the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at $237,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Brighthouse Financial Price Performance

NASDAQ BHF traded up $1.58 on Tuesday, reaching $50.66. The company’s stock had a trading volume of 726,592 shares, compared to its average volume of 447,458. Brighthouse Financial, Inc. has a twelve month low of $40.24 and a twelve month high of $56.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50 day moving average is $44.56 and its two-hundred day moving average is $47.42.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.29. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.14 billion. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.86 EPS. As a group, equities research analysts forecast that Brighthouse Financial, Inc. will post 15.01 EPS for the current fiscal 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.