Proficio Capital Partners LLC Makes New $826,000 Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

Proficio Capital Partners LLC bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,198 shares of the company's stock, valued at approximately $826,000.

Several other institutional investors have also recently made changes to their positions in BHF. State Street Corp boosted its holdings in shares of Brighthouse Financial by 2.2% during the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company's stock valued at $104,240,000 after purchasing an additional 50,441 shares during the last quarter. Institute for Wealth Management LLC. bought a new position in Brighthouse Financial during the fourth quarter valued at approximately $287,000. Bank of New York Mellon Corp grew its holdings in Brighthouse Financial by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 525,388 shares of the company's stock valued at $25,240,000 after buying an additional 9,500 shares in the last quarter. SG Americas Securities LLC bought a new stake in Brighthouse Financial in the 4th quarter worth approximately $312,000. Finally, Range Financial Group LLC bought a new stake in Brighthouse Financial in the 4th quarter worth approximately $826,000. Hedge funds and other institutional investors own 81.24% of the company's stock.

Brighthouse Financial Trading Down 0.2 %

BHF traded down $0.11 on Wednesday, reaching $59.09. 433,364 shares of the company traded hands, compared to its average volume of 482,753. The firm has a fifty day simple moving average of $57.00 and a two-hundred day simple moving average of $51.03. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $64.12. The company has a market cap of $3.43 billion, a P/E ratio of 11.45 and a beta of 1.11.

Remove Ads

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $5.88 EPS for the quarter, beating analysts' consensus estimates of $4.56 by $1.32. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. As a group, equities research analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 10,000 shares of Brighthouse Financial stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president now directly owns 66,262 shares in the company, valued at $4,041,982. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

BHF has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on shares of Brighthouse Financial from $60.00 to $66.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Barclays raised shares of Brighthouse Financial from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $52.00 to $85.00 in a research note on Wednesday, January 29th. Raymond James upgraded shares of Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 target price on the stock in a research report on Tuesday, March 18th. Piper Sandler lifted their price target on Brighthouse Financial from $52.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Brighthouse Financial from $59.00 to $56.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Brighthouse Financial presently has an average rating of "Hold" and a consensus price target of $63.80.

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.