Corebridge Financial Inc. Sells 4,688 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Corebridge Financial Inc. cut its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,166 shares of the company’s stock after selling 4,688 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Brighthouse Financial worth $3,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BHF. KBC Group NV lifted its position in shares of Brighthouse Financial by 33.1% in the 4th quarter. KBC Group NV now owns 2,664 shares of the company’s stock worth $128,000 after purchasing an additional 663 shares during the period. Lecap Asset Management Ltd. lifted its holdings in Brighthouse Financial by 9.1% in the fourth quarter. Lecap Asset Management Ltd. now owns 5,234 shares of the company’s stock worth $251,000 after buying an additional 436 shares during the period. Institute for Wealth Management LLC. bought a new stake in Brighthouse Financial during the 4th quarter valued at approximately $287,000. SG Americas Securities LLC purchased a new position in shares of Brighthouse Financial during the 4th quarter worth approximately $312,000. Finally, Xponance Inc. raised its position in shares of Brighthouse Financial by 2.7% in the 4th quarter. Xponance Inc. now owns 6,860 shares of the company’s stock worth $330,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BHF. JPMorgan Chase & Co. reduced their price target on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Barclays upgraded shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $85.00 in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Brighthouse Financial from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Jefferies Financial Group downgraded shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their price target on Brighthouse Financial from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.80.

Insider Activity

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of Brighthouse Financial 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 sale, the executive vice president now owns 66,262 shares of the company’s stock, valued at approximately $4,041,982. The trade was a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Brighthouse Financial Stock Up 0.8 %

Brighthouse Financial stock opened at $57.99 on Tuesday. Brighthouse Financial, Inc. has a 12 month low of $40.00 and a 12 month high of $64.12. The stock has a fifty day simple moving average of $57.66 and a two-hundred day simple moving average of $51.50. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 11.24 and a beta of 1.11.

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

Brighthouse Financial 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.