Wealthfront Advisers LLC Buys Shares of 30,755 Brighthouse Financial, Inc. (NASDAQ:BHF)

Wealthfront Advisers LLC purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,755 shares of the company’s stock, valued at approximately $1,477,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank raised its position in Brighthouse Financial by 0.8% during the fourth quarter. Amalgamated Bank now owns 28,345 shares of the company’s stock valued at $1,362,000 after acquiring an additional 227 shares in the last quarter. Lecap Asset Management Ltd. raised its holdings in shares of Brighthouse Financial by 9.1% during the 4th quarter. Lecap Asset Management Ltd. now owns 5,234 shares of the company’s stock valued at $251,000 after purchasing an additional 436 shares in the last quarter. KBC Group NV lifted its stake 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 valued at $90,000 after purchasing an additional 464 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Brighthouse Financial by 989.5% in the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after purchasing an additional 564 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in Brighthouse Financial by 3.0% during the fourth quarter. Independent Advisor Alliance now owns 57,831 shares of the company’s stock worth $2,778,000 after buying an additional 1,694 shares during the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Brighthouse Financial Stock Up 4.3 %

Shares of BHF opened at $55.60 on Friday. The business’s fifty day moving average price is $55.50 and its two-hundred day moving average price is $50.35. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 10.78 and a beta of 1.11. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.92 and a current ratio of 0.93.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 EPS for the quarter, topping analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. On average, analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Wall Street Analyst Weigh In

BHF has been the subject of several analyst reports. Piper Sandler boosted their target price on Brighthouse Financial from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their target price on Brighthouse Financial from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley set a $52.00 price target on shares of Brighthouse Financial in a research note on Friday, February 28th. Jefferies Financial Group cut shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.75.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president now owns 66,262 shares in the company, valued at approximately $4,041,982. This represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

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.