Bessemer Group Inc. Sells 46,161 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Bessemer Group Inc. trimmed its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 68.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,098 shares of the company's stock after selling 46,161 shares during the period. Bessemer Group Inc.'s holdings in Brighthouse Financial were worth $1,224,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc grew its position in shares of Brighthouse Financial by 188.0% in the 1st quarter. Versant Capital Management Inc now owns 622 shares of the company's stock valued at $36,000 after acquiring an additional 406 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in Brighthouse Financial by 327.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock valued at $44,000 after purchasing an additional 703 shares during the last quarter. UMB Bank n.a. grew its holdings in Brighthouse Financial by 101.7% during the first quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock worth $70,000 after purchasing an additional 605 shares during the period. Siemens Fonds Invest GmbH acquired a new position in Brighthouse Financial during the fourth quarter worth approximately $94,000. Finally, GAMMA Investing LLC raised its stake in Brighthouse Financial by 11.0% in the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock valued at $118,000 after buying an additional 202 shares during the period. Institutional investors own 81.24% of the company's stock.

Insider Activity at Brighthouse Financial

In related 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 value of $178,530.00. Following the sale, the executive vice president directly owned 18,441 shares of the company's stock, 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 filing with the SEC, which is available through this link. Company insiders own 1.40% of the company's stock.

Brighthouse Financial Price Performance

Brighthouse Financial stock traded down $1.27 during trading hours on Thursday, reaching $52.51. 750,620 shares of the stock were exchanged, compared to its average volume of 616,023. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12. The company has a market cap of $3.01 billion, a P/E ratio of 6.30 and a beta of 0.88. The stock has a 50 day moving average of $57.78 and a two-hundred day moving average of $55.16.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $4.17 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.55). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.29 billion. Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The business's revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $4.25 EPS. Equities analysts expect that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BHF shares. Keefe, Bruyette & Woods boosted their target price on Brighthouse Financial from $56.00 to $59.00 and gave the stock a "market perform" rating in a report on Tuesday, May 13th. Piper Sandler decreased their price objective on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday. Wells Fargo & Company cut their target price on shares of Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Barclays upped their price target on shares of Brighthouse Financial from $75.00 to $76.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Wall Street Zen lowered Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $60.30.

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.