Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 278.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 280,270 shares of the company's stock after buying an additional 206,116 shares during the period. Millennium Management LLC owned approximately 0.45% of Brighthouse Financial worth $12,147,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its holdings in Brighthouse Financial by 39.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company's stock worth $4,359,000 after buying an additional 23,922 shares during the period. Algebris UK Ltd acquired a new stake in shares of Brighthouse Financial in the first quarter worth $6,938,000. Seven Eight Capital LP increased its stake in shares of Brighthouse Financial by 342.1% in the first quarter. Seven Eight Capital LP now owns 28,063 shares of the company's stock worth $1,446,000 after acquiring an additional 21,716 shares during the period. Quantbot Technologies LP purchased a new position in shares of Brighthouse Financial during the first quarter worth $2,278,000. Finally, Edgestream Partners L.P. lifted its position in Brighthouse Financial by 12.7% during the second quarter. Edgestream Partners L.P. now owns 153,789 shares of the company's stock valued at $6,665,000 after purchasing an additional 17,329 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John Rosenthal sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 owns 96,262 shares of the company's stock, valued at $4,428,052. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Edward A. Spehar sold 7,125 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.74, for a total value of $297,397.50. Following the sale, the chief financial officer now directly owns 37,640 shares in the company, valued at approximately $1,571,093.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Rosenthal sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the executive vice president now directly owns 96,262 shares of the company's stock, valued at approximately $4,428,052. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,125 shares of company stock valued at $1,895,248. 1.40% of the stock is currently owned by insiders.

Brighthouse Financial Price Performance

BHF stock traded up $0.26 during mid-day trading on Tuesday, reaching $44.79. The company's stock had a trading volume of 254,474 shares, compared to its average volume of 431,226. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75. The company's 50 day moving average is $44.02 and its two-hundred day moving average is $45.61. Brighthouse Financial, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $56.24. The stock has a market cap of $2.78 billion, a PE ratio of -2.35 and a beta of 1.06.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, beating the consensus estimate of $4.36 by $1.21. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.13 earnings per share. Equities research analysts expect that Brighthouse Financial, Inc. will post 18.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BHF shares. Wells Fargo & Company downgraded Brighthouse Financial from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $51.00 to $40.00 in a report on Monday, August 12th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group raised their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Barclays initiated coverage on shares of Brighthouse Financial in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $48.00 price objective for the company. Finally, Keefe, Bruyette & Woods dropped their target price on Brighthouse Financial from $47.00 to $43.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Brighthouse Financial has a consensus rating of "Hold" and an average price target of $50.50.

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.