Bogart Wealth LLC Cuts Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Bogart Wealth LLC reduced its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,329 shares of the company’s stock after selling 3,893 shares during the period. Bogart Wealth LLC owned 0.35% of Brighthouse Financial worth $10,104,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in Brighthouse Financial by 2.2% during the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company’s stock worth $104,240,000 after buying an additional 50,441 shares in the last quarter. Institute for Wealth Management LLC. purchased a new stake in Brighthouse Financial during the 4th quarter worth approximately $287,000. Range Financial Group LLC purchased a new stake in Brighthouse Financial during the 4th quarter worth approximately $826,000. SG Americas Securities LLC purchased a new stake in Brighthouse Financial during the 4th quarter worth approximately $312,000. Finally, GSA Capital Partners LLP purchased a new stake in Brighthouse Financial during the 3rd quarter worth approximately $1,311,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Brighthouse Financial Trading Up 0.4 %

Shares of Brighthouse Financial stock opened at $58.74 on Friday. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -2.89 and a beta of 1.10. Brighthouse Financial, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $64.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average of $51.62 and a 200 day moving average of $48.40.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, topping the consensus estimate of $4.56 by $1.32. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. As a group, research analysts predict that Brighthouse Financial, Inc. will post 18.2 earnings per share for the current year.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of the company’s 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 transaction, the executive vice president now directly owns 33,407 shares in the company, valued at $1,727,141.90. This 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 is available at the SEC website. Also, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the transaction, the executive vice president now owns 66,262 shares in the company, valued at $4,041,982. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

BHF has been the subject of a number of analyst reports. Barclays upgraded Brighthouse Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $85.00 in a research report on Wednesday, January 29th. Jefferies Financial Group lowered Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler upped their price target on Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.75.

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.