Institute for Wealth Management LLC. Invests $287,000 in Brighthouse Financial, Inc. (NASDAQ:BHF)

Institute for Wealth Management LLC. purchased a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,978 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds have also recently bought and sold shares of BHF. Millennium Management LLC lifted its stake in Brighthouse Financial by 278.0% during the second quarter. Millennium Management LLC now owns 280,270 shares of the company's stock worth $12,147,000 after purchasing an additional 206,116 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Brighthouse Financial by 102.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 160,399 shares of the company's stock valued at $7,223,000 after acquiring an additional 81,040 shares during the last quarter. State Street Corp lifted its stake in shares of Brighthouse Financial by 2.2% in the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company's stock valued at $104,240,000 after acquiring an additional 50,441 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Brighthouse Financial by 12.6% in the third quarter. Two Sigma Advisers LP now owns 320,700 shares of the company's stock valued at $14,441,000 after purchasing an additional 35,800 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Brighthouse Financial in the third quarter valued at $14,280,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Stock Up 0.1 %

Shares of Brighthouse Financial stock traded up $0.04 during trading on Tuesday, hitting $60.02. The company's stock had a trading volume of 645,080 shares, compared to its average volume of 655,257. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.00. The company has a fifty day simple moving average of $50.44 and a two-hundred day simple moving average of $47.78. The company has a market capitalization of $3.56 billion, a PE ratio of -2.96 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.51). The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same period last year, the company posted $4.18 earnings per share. Equities research analysts predict that Brighthouse Financial, Inc. will post 18.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BHF has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 price target for the company. in a report on Monday. Keefe, Bruyette & Woods raised their price target on shares of Brighthouse Financial from $48.00 to $60.00 and gave the company a "market perform" rating in a research report on Wednesday, January 29th. Piper Sandler dropped their target price on shares of Brighthouse Financial from $55.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their target price on shares of Brighthouse Financial from $42.00 to $41.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays raised shares of Brighthouse Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $52.00 to $85.00 in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $57.75.

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the sale, the executive vice president now owns 66,262 shares in the company, valued at approximately $4,041,982. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Myles Lambert sold 8,400 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the sale, the executive vice president now owns 33,407 shares in the company, valued at approximately $1,727,141.90. The trade was a 20.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

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.