Lighthouse Investment Partners LLC Has $5.88 Million Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Lighthouse Investment Partners LLC raised its position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 204.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,730 shares of the company's stock after buying an additional 91,175 shares during the period. Lighthouse Investment Partners LLC owned 0.22% of Brighthouse Financial worth $5,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BHF. Norges Bank acquired a new stake in shares of Brighthouse Financial in the fourth quarter valued at $33,362,000. D. E. Shaw & Co. Inc. grew its holdings in Brighthouse Financial by 75.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company's stock worth $27,027,000 after acquiring an additional 269,062 shares during the last quarter. American Century Companies Inc. increased its position in Brighthouse Financial by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company's stock valued at $55,210,000 after acquiring an additional 228,814 shares in the last quarter. Millennium Management LLC raised its stake in shares of Brighthouse Financial by 278.0% in the second quarter. Millennium Management LLC now owns 280,270 shares of the company's stock worth $12,147,000 after acquiring an additional 206,116 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its position in shares of Brighthouse Financial by 3,362.1% during the second quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company's stock worth $6,854,000 after purchasing an additional 153,581 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $45.22, for a total transaction of $226,100.00. Following the sale, the executive vice president now directly owns 91,262 shares of the company's stock, valued at $4,126,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the completion of the transaction, the chief executive officer now directly owns 321,072 shares in the company, valued at approximately $14,663,358.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Rosenthal sold 5,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $45.22, for a total value of $226,100.00. Following the completion of the sale, the executive vice president now owns 91,262 shares in the company, valued at approximately $4,126,867.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,125 shares of company stock valued at $1,895,248. 1.40% of the stock is owned by insiders.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $44.29 on Friday. The company has a fifty day moving average price of $44.67 and a 200 day moving average price of $45.81. The firm has a market cap of $2.75 billion, a PE ratio of -2.33 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75. 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 quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping analysts' consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the firm posted $4.13 EPS. The business's revenue was up 3.3% on a year-over-year basis. Research analysts predict that Brighthouse Financial, Inc. will post 18.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BHF. Barclays assumed coverage on Brighthouse Financial in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $48.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an "underweight" rating in a research report on Tuesday, July 2nd. Wells Fargo & Company cut shares of Brighthouse Financial from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $51.00 to $40.00 in a research report on Monday, August 12th. Jefferies Financial Group boosted their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Finally, Piper Sandler reduced their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a "neutral" rating on the stock in a research note on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Brighthouse Financial has a consensus rating of "Hold" and an average target price of $50.25.

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.

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