Independent Advisor Alliance Increases Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Independent Advisor Alliance raised its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 17.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,137 shares of the company’s stock after buying an additional 8,430 shares during the quarter. Independent Advisor Alliance owned about 0.09% of Brighthouse Financial worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. boosted its position in shares of Brighthouse Financial by 75.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock valued at $27,027,000 after acquiring an additional 269,062 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Brighthouse Financial by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock valued at $55,210,000 after acquiring an additional 228,814 shares during the last quarter. Millennium Management LLC boosted its position in shares of Brighthouse Financial by 278.0% during the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock valued at $12,147,000 after acquiring an additional 206,116 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of Brighthouse Financial by 3,362.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock valued at $6,854,000 after acquiring an additional 153,581 shares during the last quarter. Finally, Algebris UK Ltd bought a new stake in Brighthouse Financial in the first quarter worth $6,938,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BHF has been the subject of a number of analyst reports. Evercore ISI lowered their price target on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods lowered their price target on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Jefferies Financial Group raised their price target on Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Piper Sandler raised their price target on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, 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 report on Thursday, October 10th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.63.

Brighthouse Financial Stock Up 2.1 %

NASDAQ:BHF opened at $52.82 on Tuesday. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $56.24. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -2.60 and a beta of 1.05. The stock has a fifty day simple moving average of $47.60 and a 200-day simple moving average of $45.59. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.51). The firm had revenue of $2.02 billion for 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 in the prior year, the business posted $4.18 EPS. Analysts anticipate that Brighthouse Financial, Inc. will post 18.44 EPS for the current year.

Insider Activity

In other news, EVP John Rosenthal sold 5,000 shares of the firm’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 in the company, valued at approximately $4,126,867.64. This trade represents a 5.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

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.