Myles Lambert Sells 8,400 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF) Stock

Brighthouse Financial, Inc. (NASDAQ:BHF) EVP Myles Lambert sold 8,400 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,727,141.90. This represents a 20.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Brighthouse Financial Trading Up 0.1 %

BHF stock opened at $50.85 on Thursday. The firm has a market cap of $3.02 billion, a PE ratio of -2.48 and a beta of 1.06. The firm has a fifty day moving average price of $48.60 and a 200 day moving average price of $45.85. 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, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results 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). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm earned $4.18 earnings per share. Sell-side analysts anticipate that Brighthouse Financial, Inc. will post 18.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brighthouse Financial

Institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of Brighthouse Financial by 0.9% during the 3rd quarter. US Bancorp DE now owns 35,755 shares of the company’s stock valued at $1,610,000 after purchasing an additional 319 shares during the last quarter. CWM LLC increased its position in Brighthouse Financial by 29.4% during the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares during the last quarter. Creative Planning raised its stake in shares of Brighthouse Financial by 5.7% in the third quarter. Creative Planning now owns 7,843 shares of the company’s stock valued at $353,000 after acquiring an additional 420 shares during the period. KBC Group NV lifted its holdings in shares of Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after acquiring an additional 464 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Brighthouse Financial by 989.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after acquiring an additional 564 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.