Bryce Point Capital LLC Has $694,000 Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Key Points

• Bryce Point Capital LLC has reduced its holdings in Brighthouse Financial, Inc. by 58.7% after selling 17,876 shares, bringing its total ownership to 12,578 shares valued at approximately $694,000.
• Several other institutional investors have also made significant adjustments to their stakes, with Versant Capital Management Inc increasing its position by 188.0% during the same quarter.
• In recent analyst ratings, Wall Street Zen downgraded Brighthouse Financial from a "buy" to a "hold," while multiple firms adjusted their price targets for the stock, reflecting a cautious outlook.

Bryce Point Capital LLC lowered its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,578 shares of the company's stock after selling 17,876 shares during the quarter. Bryce Point Capital LLC's holdings in Brighthouse Financial were worth $694,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its holdings in Brighthouse Financial by 187.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company's stock valued at $87,585,000 after purchasing an additional 1,188,685 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Brighthouse Financial by 3.2% during the first quarter. Victory Capital Management Inc. now owns 912,242 shares of the company's stock worth $52,901,000 after buying an additional 28,080 shares in the last quarter. Norges Bank bought a new position in shares of Brighthouse Financial in the fourth quarter valued at approximately $37,131,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Brighthouse Financial by 3.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 732,689 shares of the company's stock worth $35,198,000 after acquiring an additional 24,662 shares in the last quarter. Finally, Northern Trust Corp grew its position in Brighthouse Financial by 4.1% during the 4th quarter. Northern Trust Corp now owns 678,920 shares of the company's stock worth $32,615,000 after acquiring an additional 26,813 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on BHF. Wall Street Zen downgraded Brighthouse Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Morgan Stanley cut their price target on Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating on the stock in a research note on Monday, July 14th. Barclays decreased their price target on Brighthouse Financial from $76.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Keefe, Bruyette & Woods boosted their price objective on Brighthouse Financial from $56.00 to $59.00 and gave the stock a "market perform" rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company upped their target price on shares of Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.30.

Insiders Place Their Bets

In other news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, June 2nd. The shares were 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 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 Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

Brighthouse Financial Stock Down 3.0%

BHF traded down $1.52 during trading on Monday, hitting $48.69. The company had a trading volume of 457,004 shares, compared to its average volume of 939,112. The company has a market capitalization of $2.80 billion, a PE ratio of 5.84 and a beta of 0.88. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $64.12. The firm's 50-day moving average price is $55.04 and its 200 day moving average price is $55.58.

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

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.