GAMMA Investing LLC Purchases New Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

GAMMA Investing LLC acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,158 shares of the company’s stock, valued at approximately $60,000.

Other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its stake in shares of Brighthouse Financial by 412.3% in the 4th quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock valued at $29,000 after purchasing an additional 437 shares during the last quarter. Blue Trust Inc. boosted its stake in Brighthouse Financial by 123.2% in the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock valued at $36,000 after acquiring an additional 404 shares during the last quarter. Quent Capital LLC boosted its stake in Brighthouse Financial by 23.0% in the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock valued at $108,000 after acquiring an additional 382 shares during the last quarter. Signaturefd LLC grew its holdings in Brighthouse Financial by 13.7% during the 4th quarter. Signaturefd LLC now owns 3,736 shares of the company’s stock worth $198,000 after acquiring an additional 450 shares during the period. Finally, Red Door Wealth Management LLC bought a new stake in shares of Brighthouse Financial during the 4th quarter valued at $202,000. 81.24% of the stock is currently owned by institutional investors.

Brighthouse Financial Stock Up 1.0 %

NASDAQ:BHF opened at $48.75 on Thursday. The company has a market cap of $3.05 billion, a PE ratio of -2.63 and a beta of 1.16. The stock has a 50-day simple moving average of $48.38 and a 200 day simple moving average of $49.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80. Brighthouse Financial, Inc. has a 52-week low of $39.24 and a 52-week high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $2.92 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.91). Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business earned $3.51 earnings per share. On average, sell-side analysts expect that Brighthouse Financial, Inc. will post 17.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BHF shares. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $50.00 price objective on shares of Brighthouse Financial in a research note on Friday, February 16th. Morgan Stanley lowered Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 target price for the company. in a research report on Friday, February 23rd. Wells Fargo & Company increased their price target on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Piper Sandler lifted their price objective on shares of Brighthouse Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, Brighthouse Financial has an average rating of “Hold” and an average target price of $51.14.

Insider Buying and Selling at Brighthouse Financial

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the transaction, the chief executive officer now directly owns 390,765 shares in the company, valued at approximately $18,350,324.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Brighthouse Financial news, EVP Vonda Huss sold 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the sale, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at $1,268,698. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the transaction, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

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 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.