Point72 Asset Management L.P. Has $10.71 Million Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Point72 Asset Management L.P. lifted its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 139.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,210 shares of the company's stock after purchasing an additional 144,102 shares during the period. Point72 Asset Management L.P. owned about 0.40% of Brighthouse Financial worth $10,714,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BHF. Retirement Systems of Alabama increased its position in shares of Brighthouse Financial by 0.3% in the first quarter. Retirement Systems of Alabama now owns 80,625 shares of the company's stock worth $4,155,000 after acquiring an additional 211 shares in the last quarter. US Bancorp DE increased its position in shares of Brighthouse Financial by 0.6% in the first quarter. US Bancorp DE now owns 35,695 shares of the company's stock worth $1,840,000 after acquiring an additional 211 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Brighthouse Financial by 2.6% in the first quarter. State of Michigan Retirement System now owns 15,768 shares of the company's stock worth $813,000 after acquiring an additional 400 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Brighthouse Financial by 4.5% in the second quarter. Headlands Technologies LLC now owns 15,686 shares of the company's stock worth $680,000 after acquiring an additional 669 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Brighthouse Financial by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 56,192 shares of the company's stock worth $2,896,000 after acquiring an additional 727 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company's stock.

Insider Buying and Selling at Brighthouse Financial

In other news, EVP John Rosenthal sold 5,000 shares of the company's stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 96,262 shares of the company's stock, valued at approximately $4,428,052. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the 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 sale, the chief executive officer now directly owns 321,072 shares of the company's stock, valued at approximately $14,663,358.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Rosenthal sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the executive vice president now directly owns 96,262 shares of the company's stock, valued at $4,428,052. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,125 shares of company stock worth $1,895,248. Company insiders own 1.40% of the company's stock.

Brighthouse Financial Price Performance

NASDAQ BHF traded down $1.08 on Tuesday, hitting $43.95. 278,814 shares of the company were exchanged, compared to its average volume of 434,503. The firm has a 50 day moving average of $44.54 and a two-hundred day moving average of $45.76. The company has a market cap of $2.73 billion, a P/E ratio of -2.37 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $1.21. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.13 EPS. On average, equities analysts predict that Brighthouse Financial, Inc. will post 18.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BHF. JPMorgan Chase & Co. raised their price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an "underweight" rating in a report on Tuesday, July 2nd. Evercore ISI reduced their target price 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. Piper Sandler reduced their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods reduced their target price 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, Wells Fargo & Company lowered shares of Brighthouse Financial from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $51.00 to $40.00 in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $50.25.

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.