Jacobs Levy Equity Management Inc. Sells 10,436 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 708,027 shares of the company’s stock after selling 10,436 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.19% of Brighthouse Financial worth $31,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. increased its position in Brighthouse Financial by 75.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock valued at $27,027,000 after purchasing an additional 269,062 shares during the period. American Century Companies Inc. raised its stake in Brighthouse Financial by 21.9% in the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after buying an additional 228,814 shares in the last quarter. Millennium Management LLC lifted its holdings in Brighthouse Financial by 278.0% in the second quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after buying an additional 206,116 shares during the period. Great Lakes Advisors LLC lifted its holdings in Brighthouse Financial by 3,362.1% in the second quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock worth $6,854,000 after buying an additional 153,581 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Brighthouse Financial by 139.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock valued at $10,714,000 after acquiring an additional 144,102 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

BHF has been the subject of a number of research analyst reports. 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 note on Thursday, August 8th. Wells Fargo & Company raised 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. Keefe, Bruyette & Woods reduced their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Barclays initiated coverage on shares of 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. Finally, Piper Sandler boosted their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.63.

Brighthouse Financial Stock Performance

Shares of BHF stock opened at $50.80 on Wednesday. The company has a market capitalization of $3.01 billion, a price-to-earnings 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, Inc. has a one year low of $40.00 and a one year high of $56.24. The company’s 50-day moving average is $48.46 and its 200 day moving average is $45.81.

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

Insider Buying and Selling at Brighthouse Financial

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

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.