Short Interest in Brighthouse Financial, Inc. (NASDAQ:BHF) Decreases By 23.5%

Brighthouse Financial, Inc. (NASDAQ:BHF) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 1,010,000 shares, a drop of 23.5% from the June 30th total of 1,320,000 shares. Based on an average trading volume of 481,500 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.7% of the company’s shares are sold short.

Brighthouse Financial Stock Up 1.8 %

BHF traded up $0.89 during trading hours on Friday, hitting $49.10. 326,317 shares of the company’s stock were exchanged, compared to its average volume of 413,378. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s 50-day moving average is $44.48 and its two-hundred day moving average is $47.47. Brighthouse Financial has a 1-year low of $40.24 and a 1-year high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $2.86 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Brighthouse Financial will post 15.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Brighthouse Financial from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their price target 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. Evercore ISI cut their price target 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. Keefe, Bruyette & Woods raised shares of Brighthouse Financial from an “underperform” rating to a “market perform” rating and cut their price target for the company from $48.00 to $47.00 in a research note on Monday, June 17th. Finally, Piper Sandler reduced their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and an average price target of $51.56.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the transaction, the chief financial officer now owns 44,765 shares of the company’s stock, valued at $1,876,101.15. 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 Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now directly owns 96,262 shares in the company, valued at approximately $4,428,052. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Institutional Trading of Brighthouse Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG raised its position in shares of Brighthouse Financial by 4.5% in the fourth quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock valued at $56,200,000 after purchasing an additional 45,938 shares during the period. Norges Bank acquired a new position in shares of Brighthouse Financial in the fourth quarter valued at about $33,362,000. Charles Schwab Investment Management Inc. grew its stake in shares of Brighthouse Financial by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 441,234 shares of the company’s stock valued at $23,350,000 after acquiring an additional 8,471 shares in the last quarter. Private Management Group Inc. grew its stake in shares of Brighthouse Financial by 1.9% in the first quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock valued at $17,559,000 after acquiring an additional 6,496 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Brighthouse Financial by 2.4% in the first quarter. Principal Financial Group Inc. now owns 241,938 shares of the company’s stock valued at $12,469,000 after acquiring an additional 5,743 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

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.