Algert Global LLC Decreases Stock Position in Brighthouse Financial, Inc. $BHF

Key Points

• Algert Global LLC has reduced its stake in Brighthouse Financial by 67.5%, selling 143,904 shares and leaving it with about 69,306 shares valued at $4.02 million.
• Other institutional investors, such as American Century Companies and Victory Capital Management, have increased their holdings in Brighthouse Financial, indicating growing interest from the institutional market.
• Brighthouse Financial’s recent earnings report showed an EPS of $3.43, missing analysts' expectations, and its revenue declined by 2.8% compared to the previous year.

Algert Global LLC lowered its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 67.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,306 shares of the company's stock after selling 143,904 shares during the quarter. Algert Global LLC owned about 0.12% of Brighthouse Financial worth $4,019,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BHF. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Brighthouse Financial by 7.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,895 shares of the company's stock valued at $9,411,000 after acquiring an additional 14,316 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Brighthouse Financial by 11.0% during the 1st quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock worth $118,000 after purchasing an additional 202 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $780,000. Four Tree Island Advisory LLC bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $699,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Brighthouse Financial by 0.7% during the 4th quarter. Ameriprise Financial Inc. now owns 74,877 shares of the company's stock worth $3,597,000 after purchasing an additional 491 shares during the period. Institutional investors and hedge funds own 81.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BHF shares. Wall Street Zen cut Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Barclays lowered their target price on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Keefe, Bruyette & Woods lowered their target price on Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, August 11th. Piper Sandler lowered their target price on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $59.67.

Brighthouse Financial Price Performance

BHF stock traded down $0.30 during mid-day trading on Monday, reaching $46.79. 619,618 shares of the company traded hands, compared to its average volume of 683,593. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $2.67 billion, a P/E ratio of 5.06 and a beta of 0.88. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12. The company has a fifty day moving average price of $50.18 and a 200-day moving average price of $54.46.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing analysts' consensus estimates of $4.70 by ($1.27). Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company earned $5.57 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $59.51, for a total transaction of $178,530.00. Following the sale, the executive vice president owned 18,441 shares in the company, valued at $1,097,423.91. This trade represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

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.