International Assets Investment Management LLC Takes $14.28 Million Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

International Assets Investment Management LLC acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,717 shares of the company's stock, valued at approximately $14,280,000. International Assets Investment Management LLC owned approximately 0.05% of Brighthouse Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE increased its stake in Brighthouse Financial by 0.6% during the 1st quarter. US Bancorp DE now owns 35,695 shares of the company's stock worth $1,840,000 after buying an additional 211 shares during the period. Retirement Systems of Alabama increased its position in shares of Brighthouse Financial by 0.3% during 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 during the last quarter. CWM LLC lifted its stake in shares of Brighthouse Financial by 29.4% in the third quarter. CWM LLC now owns 1,491 shares of the company's stock worth $67,000 after acquiring an additional 339 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Brighthouse Financial by 2.6% in the first quarter. State of Michigan Retirement System now owns 15,768 shares of the company's stock valued at $813,000 after purchasing an additional 400 shares during the last quarter. Finally, Creative Planning grew its stake in Brighthouse Financial by 5.7% during the 3rd quarter. Creative Planning now owns 7,843 shares of the company's stock valued at $353,000 after purchasing an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BHF. Keefe, Bruyette & Woods cut 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. Evercore ISI cut their price target on shares of Brighthouse Financial from $56.00 to $52.00 and set an "in-line" rating on the stock in a report on Thursday, August 8th. Barclays began 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 objective on the stock. Piper Sandler upped their target price on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price target on shares of Brighthouse Financial from $40.00 to $41.00 and gave the stock an "underweight" rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $50.63.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF traded down $1.39 during midday trading on Thursday, hitting $47.30. The company's stock had a trading volume of 292,550 shares, compared to its average volume of 426,493. The firm has a market cap of $2.94 billion, a P/E ratio of -2.48 and a beta of 1.06. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $56.24. The firm's fifty day moving average price is $45.29 and its 200-day moving average price is $45.36. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its 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 company had revenue of $2.21 billion during the quarter, compared to analyst estimates 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 was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.13 earnings per share. On average, sell-side analysts forecast that Brighthouse Financial, Inc. will post 18.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Edward A. Spehar sold 7,125 shares of the 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 owns 37,640 shares of the company's stock, valued at $1,571,093.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the transaction, the chief executive officer now owns 321,072 shares of the company's stock, valued at approximately $14,663,358.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Edward A. Spehar sold 7,125 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the sale, the chief financial officer now directly owns 37,640 shares of the company's stock, valued at $1,571,093.60. The trade was 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 over the last three months. Company insiders own 1.40% of the company's stock.

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.