Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by California Public Employees Retirement System

Posted by Defense World Staff on May 17th, 2023

California Public Employees Retirement System trimmed its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 177,691 shares of the company’s stock after selling 1,953 shares during the period. California Public Employees Retirement System owned 0.26% of Brighthouse Financial worth $9,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Brighthouse Financial by 58.6% in the third quarter. IFP Advisors Inc now owns 690 shares of the company’s stock valued at $52,000 after buying an additional 255 shares in the last quarter. Captrust Financial Advisors grew its position in Brighthouse Financial by 9.6% in the first quarter. Captrust Financial Advisors now owns 3,071 shares of the company’s stock valued at $159,000 after acquiring an additional 268 shares in the last quarter. Ingalls & Snyder LLC raised its stake in shares of Brighthouse Financial by 2.0% during the fourth quarter. Ingalls & Snyder LLC now owns 15,490 shares of the company’s stock valued at $794,000 after purchasing an additional 300 shares during the period. Lazard Asset Management LLC raised its stake in shares of Brighthouse Financial by 51.4% during the third quarter. Lazard Asset Management LLC now owns 963 shares of the company’s stock valued at $41,000 after purchasing an additional 327 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Brighthouse Financial by 98.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 717 shares of the company’s stock worth $37,000 after buying an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Jefferies Financial Group raised their target price on Brighthouse Financial from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. Wells Fargo & Company lifted their price objective on Brighthouse Financial from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 13th. Raymond James assumed coverage on shares of Brighthouse Financial in a report on Wednesday, February 8th. They set a “market perform” rating for the company. Morgan Stanley decreased their price objective on shares of Brighthouse Financial from $64.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 12th. Finally, Piper Sandler reduced their price target on shares of Brighthouse Financial from $46.00 to $44.00 in a research report on Wednesday, May 10th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, Brighthouse Financial currently has an average rating of “Hold” and a consensus price target of $51.38.

Brighthouse Financial Stock Down 1.7 %

BHF opened at $39.91 on Wednesday. Brighthouse Financial, Inc. has a 12 month low of $38.38 and a 12 month high of $60.54. The stock has a market cap of $2.67 billion, a P/E ratio of -2.13 and a beta of 1.26. The stock’s 50 day moving average price is $43.18 and its 200 day moving average price is $50.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.61 and a quick ratio of 0.61.

Brighthouse Financial (NASDAQ:BHF – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.29). Brighthouse Financial had a return on equity of 10.36% and a net margin of 0.06%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business posted $4.07 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, research analysts predict that Brighthouse Financial, Inc. will post 14.36 earnings per share for the current year.

Brighthouse Financial Profile

(Get Rating)

Brighthouse Financial, Inc operates as a holding company, which engages in the provision of life insurance and annuities through independent distribution channels and marketing arrangements with a diverse network of distribution partners. It operates through the following segments: Annuities, Life, Run-Off, and Corporate & Others.