Central Pacific Bank Trust Division Invests $169,000 in Brighthouse Financial, Inc. (NASDAQ:BHF)

Central Pacific Bank Trust Division purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) during the 1st quarter, HoldingsChannel reports. The firm purchased 3,308 shares of the company’s stock, valued at approximately $169,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BHF. Lindbrook Capital LLC grew its position in shares of Brighthouse Financial by 412.3% during the fourth quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock worth $29,000 after acquiring an additional 437 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Brighthouse Financial by 123.2% in the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock valued at $36,000 after purchasing an additional 404 shares during the period. GAMMA Investing LLC bought a new stake in shares of Brighthouse Financial during the fourth quarter valued at approximately $60,000. Quadrant Capital Group LLC increased its position in Brighthouse Financial by 36.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $60,000 after acquiring an additional 303 shares during the period. Finally, Quent Capital LLC raised its stake in Brighthouse Financial by 23.0% during the 4th quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock valued at $108,000 after acquiring an additional 382 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Trading Up 2.9 %

BHF stock traded up $1.25 during mid-day trading on Wednesday, reaching $44.98. 136,160 shares of the stock traded hands, compared to its average volume of 445,959. Brighthouse Financial, Inc. has a 52-week low of $40.24 and a 52-week high of $56.24. The stock’s fifty day moving average is $44.26 and its 200-day moving average is $47.87. The company has a market cap of $2.79 billion, a P/E ratio of -2.41 and a beta of 1.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, beating the consensus estimate of $3.96 by $0.29. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $2.86 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Brighthouse Financial, Inc. will post 16.16 earnings per share for the current year.

Insider Activity

In other Brighthouse Financial news, Director Michael J. Inserra purchased 2,500 shares of the stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $43.20 per share, for a total transaction of $108,000.00. Following the completion of the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $237,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Michael J. Inserra acquired 2,500 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $43.20 per share, with a total value of $108,000.00. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $237,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total transaction of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

BHF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods raised Brighthouse Financial from an “underperform” rating to a “market perform” rating and decreased their target price for the company from $48.00 to $47.00 in a research note on Monday, June 17th. Piper Sandler lowered their target price on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company cut their price target on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Finally, Evercore ISI lowered their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.00.

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.