State of Michigan Retirement System Decreases Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

State of Michigan Retirement System reduced its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,068 shares of the company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Brighthouse Financial were worth $676,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Global Investments purchased a new position in Brighthouse Financial in the third quarter valued at approximately $430,000. Venturi Wealth Management LLC raised its stake in shares of Brighthouse Financial by 989.5% in the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after buying an additional 564 shares during the period. Entropy Technologies LP lifted its position in shares of Brighthouse Financial by 11.1% during the 3rd quarter. Entropy Technologies LP now owns 13,016 shares of the company’s stock valued at $586,000 after buying an additional 1,300 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Brighthouse Financial during the 3rd quarter worth $1,311,000. Finally, Victory Capital Management Inc. increased its holdings in Brighthouse Financial by 7.7% in the 3rd quarter. Victory Capital Management Inc. now owns 32,354 shares of the company’s stock worth $1,457,000 after acquiring an additional 2,327 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the transaction, the executive vice president now owns 66,262 shares of the company’s stock, valued at $4,041,982. The trade was a 13.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $54.21 on Monday. The company’s 50 day simple moving average is $54.97 and its two-hundred day simple moving average is $50.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.92. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $64.12. The stock has a market capitalization of $3.15 billion, a PE ratio of 10.51 and a beta of 1.11.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share (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%. Analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays raised shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $85.00 in a report on Wednesday, January 29th. Wells Fargo & Company upgraded shares of Brighthouse Financial from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $41.00 to $59.00 in a research note on Wednesday, February 19th. Piper Sandler lifted their price objective on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods boosted their target price on shares of Brighthouse Financial from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, Jefferies Financial Group lowered Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and an average price target of $63.14.

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.