Assenagon Asset Management S.A. Boosts Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Assenagon Asset Management S.A. raised its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 102.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 160,399 shares of the company's stock after acquiring an additional 81,040 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.26% of Brighthouse Financial worth $7,223,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its stake in shares of Brighthouse Financial by 75.9% in the second 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 period. American Century Companies Inc. boosted its stake in shares of 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 purchasing an additional 228,814 shares during the last quarter. Millennium Management LLC increased its position in shares of 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 buying an additional 206,116 shares during the period. Great Lakes Advisors LLC raised its stake in 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 buying an additional 153,581 shares during the last quarter. Finally, Algebris UK Ltd acquired a new position in Brighthouse Financial in the first quarter valued at $6,938,000. Institutional investors own 81.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BHF shares. Piper Sandler lifted their price objective on Brighthouse Financial from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Barclays assumed coverage on Brighthouse Financial in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $48.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted 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. Finally, Evercore ISI reduced 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 report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $50.63.

Brighthouse Financial Stock Down 1.1 %

Shares of BHF traded down $0.56 on Tuesday, reaching $48.22. The company's stock had a trading volume of 385,301 shares, compared to its average volume of 427,391. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $56.24. The stock has a market capitalization of $2.99 billion, a PE ratio of -2.54 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. The firm has a fifty day moving average of $45.10 and a 200-day moving average of $45.34.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping the consensus estimate of $4.36 by $1.21. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.13 earnings per share. Equities analysts predict that Brighthouse Financial, Inc. will post 18.52 EPS for the current year.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the company's stock in a transaction dated 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 directly owns 91,262 shares of the company's stock, valued at approximately $4,126,867.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the sale, the chief executive officer now owns 321,072 shares of the company's stock, valued at approximately $14,663,358.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total transaction of $226,100.00. Following the completion of the sale, the executive vice president now directly owns 91,262 shares in the company, valued at $4,126,867.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,390 shares of company stock valued at $1,861,608 in the last three months. 1.40% of the stock is currently owned by insiders.

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.