Jacobs Levy Equity Management Inc. Lowers Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Jacobs Levy Equity Management Inc. lessened its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 708,027 shares of the company’s stock after selling 10,436 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Brighthouse Financial were worth $31,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Brighthouse Financial by 21.9% during the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock valued at $55,210,000 after buying an additional 228,814 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in Brighthouse Financial by 75.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock valued at $27,027,000 after acquiring an additional 269,062 shares in the last quarter. Millennium Management LLC increased its holdings in Brighthouse Financial by 278.0% in the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock valued at $12,147,000 after acquiring an additional 206,116 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Brighthouse Financial by 139.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after purchasing an additional 144,102 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Brighthouse Financial by 9.3% during the 3rd quarter. Algert Global LLC now owns 222,504 shares of the company’s stock valued at $10,019,000 after purchasing an additional 19,022 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

Insider Activity at Brighthouse Financial

In other news, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the sale, the executive vice president now directly owns 33,407 shares in the company, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Rosenthal sold 4,265 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the sale, the executive vice president now directly owns 86,262 shares of the company’s stock, valued at $3,971,502.48. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Piper Sandler lifted their price objective on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Evercore ISI lowered their target price on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Barclays assumed coverage on shares of Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 target price for the company. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.63.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $50.80 on Wednesday. The business’s 50 day moving average price is $48.46 and its 200-day moving average price is $45.81. Brighthouse Financial, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $56.24. The company has a market cap of $3.01 billion, a P/E ratio of -2.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same quarter last year, the firm earned $4.18 EPS. Sell-side analysts predict that Brighthouse Financial, Inc. will post 18.47 earnings per share for the current year.

Brighthouse Financial Company 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.