Retirement Systems of Alabama Trims Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Retirement Systems of Alabama lowered its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 73,804 shares of the company’s stock after selling 2,856 shares during the period. Retirement Systems of Alabama’s holdings in Brighthouse Financial were worth $3,323,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Brighthouse Financial by 974.1% during the 3rd quarter. UMB Bank n.a. now owns 623 shares of the company’s stock valued at $28,000 after purchasing an additional 565 shares during the period. Venturi Wealth Management LLC raised its holdings in Brighthouse Financial by 989.5% during the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after acquiring an additional 564 shares during the period. CWM LLC lifted its position in shares of Brighthouse Financial by 29.4% in the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after acquiring an additional 855 shares during the period. Finally, Quarry LP purchased a new stake in shares of Brighthouse Financial during the second quarter worth about $89,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BHF. Barclays boosted their price target on Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler cut their target price on shares of Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Brighthouse Financial currently has a consensus rating of “Hold” and an average target price of $51.75.

Insider Buying and Selling at Brighthouse Financial

In other news, EVP John Rosenthal sold 4,265 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the sale, the executive vice president now owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Myles Lambert sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Brighthouse Financial Stock Up 1.4 %

NASDAQ BHF opened at $46.63 on Friday. The stock has a 50 day moving average price of $49.68 and a 200-day moving average price of $46.27. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $54.73. The company has a market capitalization of $2.77 billion, a P/E ratio of -2.29 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current 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 the consensus estimate of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate 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 last year, the business earned $4.18 EPS. As a group, equities analysts predict that Brighthouse Financial, Inc. will post 18.47 EPS for the current fiscal year.

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.