MQS Management LLC Makes New $277,000 Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

MQS Management LLC acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,155 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position in Brighthouse Financial by 0.6% during the 1st quarter. US Bancorp DE now owns 35,695 shares of the company’s stock valued at $1,840,000 after purchasing an additional 211 shares during the period. CWM LLC raised its position in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after acquiring an additional 339 shares in the last quarter. Creative Planning lifted its stake in shares of Brighthouse Financial by 5.7% in the 3rd quarter. Creative Planning now owns 7,843 shares of the company’s stock valued at $353,000 after purchasing an additional 420 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Brighthouse Financial by 989.5% during the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after purchasing an additional 564 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Brighthouse Financial by 974.1% in the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after purchasing an additional 565 shares during the period. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Brighthouse Financial Stock Performance

BHF stock opened at $51.09 on Friday. The stock’s 50 day simple moving average is $46.35 and its 200 day simple moving average is $45.51. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $56.24. The stock has a market capitalization of $3.03 billion, a PE ratio of -2.51 and a beta of 1.05.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the company earned $4.18 earnings per share. As a group, research analysts forecast that Brighthouse Financial, Inc. will post 18.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays assumed coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. Jefferies Financial Group lifted their target price on shares of Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 29th. Piper Sandler upped their price target on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.63.

Insider Buying and Selling at Brighthouse Financial

In other news, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $46.04, for a total value of $196,360.60. Following the transaction, the executive vice president now directly owns 86,262 shares in the company, valued at $3,971,502.48. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the sale, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at $14,663,358.24. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,265 shares of company stock worth $1,564,211. Company insiders own 1.40% of the company’s stock.

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.