Central Pacific Bank Trust Division Makes New Investment in Brighthouse Financial, Inc. (NASDAQ:BHF)

Central Pacific Bank Trust Division purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,308 shares of the company’s stock, valued at approximately $169,000.

Several other hedge funds also recently added to or reduced their stakes in BHF. UBS Group AG grew its position in Brighthouse Financial by 4.5% in the 4th quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock valued at $56,200,000 after acquiring an additional 45,938 shares during the last quarter. American Century Companies Inc. increased its stake in Brighthouse Financial by 21.8% in the 3rd quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after buying an additional 119,345 shares during the period. Norges Bank bought a new stake in Brighthouse Financial during the 4th quarter valued at about $33,362,000. Charles Schwab Investment Management Inc. boosted its position in Brighthouse Financial by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 441,234 shares of the company’s stock valued at $23,350,000 after buying an additional 8,471 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Brighthouse Financial by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 241,938 shares of the company’s stock worth $12,469,000 after acquiring an additional 5,743 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total transaction of $298,608.75. Following the sale, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Brighthouse Financial news, Director Michael J. Inserra purchased 2,500 shares of the stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $43.20 per share, with a total value of $108,000.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at $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 stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the sale, the chief financial officer now directly owns 44,765 shares in the company, valued at $1,876,101.15. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock traded up $1.25 during midday trading on Wednesday, hitting $44.98. The company had a trading volume of 136,160 shares, compared to its average volume of 445,959. The company has a fifty day simple moving average of $44.26 and a 200 day simple moving average of $47.87. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -2.41 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. Brighthouse Financial, Inc. has a 12-month low of $40.24 and a 12-month 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 analysts’ consensus estimates of $3.96 by $0.29. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $2.86 earnings per share. As a group, analysts predict that Brighthouse Financial, Inc. will post 16.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BHF has been the subject of a number of research analyst reports. Jefferies Financial Group raised Brighthouse Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $49.00 to $54.00 in a research report on Wednesday. Evercore ISI decreased their price objective on Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Wells Fargo & Company dropped their target price on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Piper Sandler cut their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods upgraded Brighthouse Financial from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $48.00 to $47.00 in a report on Monday, June 17th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Brighthouse Financial has a consensus rating of “Hold” and a consensus target price of $51.00.

Brighthouse Financial 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.