Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Brighthouse Financial, Inc. by 66.6%, owning only 4,165 shares after selling 8,294 shares in the first quarter, with holdings now valued at approximately $242,000.
• Brighthouse Financial's stock was reported to have a market capitalization of $2.65 billion and a price-to-earnings ratio of 5.54, with shares recently opening at $46.18.
• Analysts hold a consensus rating of "Hold" with a target price of $60.30, while recent reports indicate mixed assessments, including a downgrade from Morgan Stanley.

Pacer Advisors Inc. decreased its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 66.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,165 shares of the company's stock after selling 8,294 shares during the period. Pacer Advisors Inc.'s holdings in Brighthouse Financial were worth $242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BHF. Four Tree Island Advisory LLC acquired a new stake in Brighthouse Financial during the first quarter worth approximately $699,000. Victory Capital Management Inc. raised its position in Brighthouse Financial by 3.2% during the 1st quarter. Victory Capital Management Inc. now owns 912,242 shares of the company's stock worth $52,901,000 after purchasing an additional 28,080 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Brighthouse Financial by 34.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 64,801 shares of the company's stock valued at $3,758,000 after purchasing an additional 16,711 shares during the period. Signaturefd LLC lifted its stake in shares of Brighthouse Financial by 15.0% in the 1st quarter. Signaturefd LLC now owns 3,138 shares of the company's stock valued at $182,000 after purchasing an additional 410 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Brighthouse Financial during the 1st quarter worth approximately $231,000. Institutional investors own 81.24% of the company's stock.

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the firm's 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Brighthouse Financial Price Performance

Brighthouse Financial stock traded up $1.09 during mid-day trading on Wednesday, hitting $47.88. The stock had a trading volume of 378,633 shares, compared to its average volume of 856,552. The firm's 50 day moving average is $53.61 and its 200 day moving average is $55.46. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $64.12. The firm has a market capitalization of $2.75 billion, a P/E ratio of 5.74 and a beta of 0.88. 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 (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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 for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $4.25 earnings per share. On average, sell-side analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on BHF. Wells Fargo & Company boosted their price objective on Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted 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. 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. Wall Street Zen lowered Brighthouse Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Piper Sandler reduced their target price on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.