GAMMA Investing LLC Increases Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

GAMMA Investing LLC grew its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 6,338.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,010 shares of the company's stock after purchasing an additional 116,177 shares during the quarter. GAMMA Investing LLC owned approximately 0.20% of Brighthouse Financial worth $6,843,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in Brighthouse Financial by 188.0% during the 1st quarter. Versant Capital Management Inc now owns 622 shares of the company's stock worth $36,000 after buying an additional 406 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Brighthouse Financial in the 4th quarter valued at approximately $1,694,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Brighthouse Financial in the 4th quarter valued at approximately $1,797,000. Siemens Fonds Invest GmbH acquired a new stake in Brighthouse Financial in the 4th quarter worth approximately $94,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Brighthouse Financial during the 4th quarter worth approximately $1,721,000. Hedge funds and other 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 company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $59.51, for a total transaction of $178,530.00. Following the completion of the transaction, the executive vice president now owns 18,441 shares in the company, valued at $1,097,423.91. This represents a 13.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF traded down $0.69 during trading on Wednesday, reaching $56.98. 454,154 shares of the company's stock traded hands, compared to its average volume of 585,831. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. Brighthouse Financial, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $64.12. The company has a 50-day simple moving average of $55.75 and a 200-day simple moving average of $54.59. The firm has a market cap of $3.27 billion, a PE ratio of 11.04 and a beta of 0.92.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.55). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.29 billion. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.25 earnings per share. As a group, analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BHF. UBS Group set a $72.00 target price on Brighthouse Financial in a research note on Tuesday, March 18th. Raymond James upgraded shares of Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 target price for the company in a research report on Tuesday, March 18th. Wells Fargo & Company cut their price target on Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley upped their target price on Brighthouse Financial from $41.00 to $45.00 and gave the stock an "underweight" rating in a research note on Monday, May 19th. Finally, Piper Sandler raised their target price on Brighthouse Financial from $52.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $60.80.

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.