Jacobs Levy Equity Management Inc. Sells 10,436 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Jacobs Levy Equity Management Inc. cut its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 708,027 shares of the company's stock after selling 10,436 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.19% of Brighthouse Financial worth $31,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BHF. UMB Bank n.a. grew its position in shares of Brighthouse Financial by 974.1% in the third quarter. UMB Bank n.a. now owns 623 shares of the company's stock valued at $28,000 after purchasing an additional 565 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Brighthouse Financial by 989.5% in 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 during the last quarter. CWM LLC grew its position in shares of Brighthouse Financial by 29.4% in the third quarter. CWM LLC now owns 1,491 shares of the company's stock valued at $67,000 after purchasing an additional 339 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company's stock valued at $78,000 after purchasing an additional 855 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Brighthouse Financial in the second quarter valued at about $89,000. 81.24% of the stock is owned by institutional investors and hedge funds.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock traded down $0.37 during midday trading on Wednesday, reaching $50.43. The company had a trading volume of 89,481 shares, compared to its average volume of 423,993. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -2.48 and a beta of 1.06. The stock has a fifty day simple moving average of $48.60 and a 200 day simple moving average of $45.85. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $56.24.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts' consensus estimates of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same period in the prior year, the firm posted $4.18 EPS. As a group, equities research analysts forecast that Brighthouse Financial, Inc. will post 18.47 earnings per share for the current year.

Insider Transactions at Brighthouse Financial

In related news, EVP Myles Lambert sold 8,400 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the sale, the executive vice president now directly owns 33,407 shares of the company's stock, valued at approximately $1,727,141.90. The trade was a 20.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Rosenthal sold 4,265 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Brighthouse Financial from $40.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday, October 10th. Barclays initiated coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $48.00 price target for the company. Evercore ISI cut their price target on shares of Brighthouse Financial from $56.00 to $52.00 and set an "in-line" rating for the company in a research note on Thursday, August 8th. Keefe, Bruyette & Woods cut their price target on shares of Brighthouse Financial from $47.00 to $43.00 and set a "market perform" rating for the company in a research note on Wednesday, August 14th. Finally, Piper Sandler raised their price target on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $50.63.

Brighthouse Financial Company 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.