Weiss Asset Management LP Acquires New Shares in Brighthouse Financial, Inc. (NASDAQ:BHF)

Weiss Asset Management LP acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,356 shares of the company's stock, valued at approximately $782,000.

Several other large investors have also recently made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in Brighthouse Financial by 12.6% during the 3rd quarter. Two Sigma Advisers LP now owns 320,700 shares of the company's stock worth $14,441,000 after acquiring an additional 35,800 shares in the last quarter. State Street Corp increased its stake in Brighthouse Financial by 2.2% in 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 in the last quarter. Quantinno Capital Management LP increased its position in Brighthouse Financial by 53.3% during the third quarter. Quantinno Capital Management LP now owns 46,707 shares of the company's stock worth $2,103,000 after buying an additional 16,243 shares in the last quarter. Ingalls & Snyder LLC boosted its holdings in Brighthouse Financial by 32.3% in the third quarter. Ingalls & Snyder LLC now owns 32,353 shares of the company's stock valued at $1,457,000 after acquiring an additional 7,900 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Brighthouse Financial during the third quarter worth about $385,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Brighthouse Financial

In other news, EVP Myles Lambert sold 8,400 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total value of $434,280.00. Following the transaction, the executive vice president now directly owns 33,407 shares in the company, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Rosenthal sold 4,265 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the completion of the sale, the executive vice president now owns 86,262 shares of the company's stock, valued at approximately $3,971,502.48. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

BHF has been the topic of several recent analyst reports. 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 target price on the stock. Piper Sandler increased their price target on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective 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. Finally, Keefe, Bruyette & Woods lowered 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 report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $50.63.

Brighthouse Financial Stock Down 1.8 %

Brighthouse Financial stock traded down $0.94 during trading on Monday, reaching $50.10. The company had a trading volume of 329,615 shares, compared to its average volume of 423,510. The firm's 50-day simple moving average is $49.01 and its 200 day simple moving average is $45.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. 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 posted its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.51). The company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same quarter in the prior year, the firm earned $4.18 EPS. Sell-side analysts forecast that Brighthouse Financial, Inc. will post 18.47 EPS for the current year.

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.