VIRGINIA RETIREMENT SYSTEMS ET Al Trims Stock Holdings in Brighthouse Financial, Inc. $BHF

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 57.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,950 shares of the company’s stock after selling 12,050 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Brighthouse Financial were worth $580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UBS Group AG lifted its position in Brighthouse Financial by 98.1% during the third quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock valued at $181,177,000 after purchasing an additional 1,690,064 shares during the period. AQR Capital Management LLC raised its position in Brighthouse Financial by 190.7% during the third quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company’s stock worth $74,113,000 after acquiring an additional 915,902 shares during the period. Freestone Grove Partners LP purchased a new position in Brighthouse Financial during the third quarter valued at $31,465,000. SG Americas Securities LLC grew its position in shares of Brighthouse Financial by 231.5% in the fourth quarter. SG Americas Securities LLC now owns 341,502 shares of the company’s stock valued at $22,126,000 after purchasing an additional 238,478 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Brighthouse Financial by 10.4% during the third quarter. American Century Companies Inc. now owns 2,210,276 shares of the company’s stock worth $117,321,000 after purchasing an additional 208,630 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Zacks Research cut Brighthouse Financial from a “hold” rating to a “strong sell” rating in a report on Monday, March 30th. Argus upgraded Brighthouse Financial to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings downgraded Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 target price on shares of Brighthouse Financial in a research note on Thursday, March 26th. Seven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $60.86.

Brighthouse Financial Stock Up 0.3%

NASDAQ BHF opened at $62.70 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $60.95 and its 200-day simple moving average is $62.62. Brighthouse Financial, Inc. has a 52 week low of $42.07 and a 52 week high of $66.33. The firm has a market cap of $3.60 billion, a PE ratio of -21.04 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Thursday, May 7th. The company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm earned $4.17 EPS. The firm’s revenue for the quarter was down 29.4% compared to the same quarter last year. As a group, equities analysts anticipate that Brighthouse Financial, Inc. will post 19.52 earnings per share for the current year.

About Brighthouse Financial

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.