Brighthouse Financial Inc (NASDAQ:BHF) Shares Sold by South Dakota Investment Council
South Dakota Investment Council decreased its stake in shares of Brighthouse Financial Inc (NASDAQ:BHF) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,176 shares of the company’s stock after selling 13,228 shares during the period. South Dakota Investment Council owned 0.08% of Brighthouse Financial worth $3,198,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Brighthouse Financial in the first quarter valued at $8,335,000. Schneider Capital Management Corp boosted its stake in Brighthouse Financial by 0.3% in the 1st quarter. Schneider Capital Management Corp now owns 898,411 shares of the company’s stock worth $32,603,000 after buying an additional 2,860 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Brighthouse Financial in the 1st quarter worth about $441,000. Nomura Asset Management Co. Ltd. grew its holdings in Brighthouse Financial by 4.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 19,315 shares of the company’s stock valued at $701,000 after buying an additional 860 shares during the period. Finally, Swiss National Bank grew its holdings in Brighthouse Financial by 2.7% in the 1st quarter. Swiss National Bank now owns 359,858 shares of the company’s stock valued at $13,059,000 after buying an additional 9,400 shares during the period. 87.25% of the stock is owned by institutional investors.
In related news, insider Eric T. Steigerwalt purchased 12,500 shares of Brighthouse Financial stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $34.04 per share, with a total value of $425,500.00. Following the transaction, the insider now owns 111,239 shares of the company’s stock, valued at approximately $3,786,575.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Conor Murphy purchased 3,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average price of $35.68 per share, with a total value of $107,040.00. Following the acquisition, the chief operating officer now owns 20,902 shares in the company, valued at $745,783.36. The disclosure for this purchase can be found here. Insiders bought 31,441 shares of company stock valued at $1,091,409 in the last three months. Company insiders own 0.23% of the company’s stock.
Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Monday, August 5th. The company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.33. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.03 billion. Brighthouse Financial had a net margin of 9.61% and a return on equity of 6.74%. During the same quarter last year, the firm posted $1.68 earnings per share. As a group, equities research analysts forecast that Brighthouse Financial Inc will post 8.67 EPS for the current year.
Several research analysts have recently weighed in on BHF shares. Bank of America cut their price objective on shares of Brighthouse Financial from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. BidaskClub raised shares of Brighthouse Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Citigroup set a $36.00 price target on shares of Brighthouse Financial and gave the stock a “sell” rating in a research report on Thursday, May 23rd. Credit Suisse Group downgraded shares of Brighthouse Financial from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $35.00 to $22.00 in a research note on Tuesday, June 25th. Finally, Morgan Stanley decreased their price target on shares of Brighthouse Financial from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Brighthouse Financial currently has a consensus rating of “Hold” and an average target price of $37.89.
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 offers 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.
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