New York State Common Retirement Fund Cuts Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

New York State Common Retirement Fund lowered its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,055 shares of the company’s stock after selling 9,474 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of Brighthouse Financial worth $2,702,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in shares of Brighthouse Financial by 85.0% during the 3rd quarter. SG Americas Securities LLC now owns 4,536 shares of the company’s stock worth $222,000 after purchasing an additional 2,084 shares during the last quarter. Xponance Inc. grew its holdings in Brighthouse Financial by 4.5% during the third quarter. Xponance Inc. now owns 9,099 shares of the company’s stock valued at $445,000 after purchasing an additional 394 shares during the period. Raymond James & Associates increased its position in Brighthouse Financial by 17.7% in the third quarter. Raymond James & Associates now owns 6,314 shares of the company’s stock worth $309,000 after buying an additional 949 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Brighthouse Financial by 22.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,587 shares of the company’s stock valued at $714,000 after buying an additional 2,712 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Brighthouse Financial by 111.3% during the 3rd quarter. Mackenzie Financial Corp now owns 18,281 shares of the company’s stock valued at $843,000 after buying an additional 9,631 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $50.73 on Tuesday. Brighthouse Financial, Inc. has a 12 month low of $39.24 and a 12 month high of $56.24. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.17 billion, a P/E ratio of -2.74 and a beta of 1.14. The company has a 50 day moving average of $48.52 and a 200 day moving average of $49.82.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Tuesday, February 13th. The company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $3.51 earnings per share. As a group, sell-side analysts forecast that Brighthouse Financial, Inc. will post 17.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the sale, the executive vice president now owns 27,080 shares in the company, valued at approximately $1,268,698. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vonda Huss sold 10,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.85, for a total value of $468,500.00. Following the completion of the transaction, the executive vice president now directly owns 27,080 shares in the company, valued at approximately $1,268,698. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

BHF has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Brighthouse Financial from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Piper Sandler boosted their price target on shares of Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $50.00 price objective on shares of Brighthouse Financial in a report on Friday, February 16th. Finally, Morgan Stanley cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 target price on the stock. in a report on Friday, February 23rd. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.14.

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.