Mutual of America Capital Management LLC decreases its stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Mutual of America Capital Management LLC reduced its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) by 7.0% in the second quarter, HoldingsChannel.com reports. The fund owned 35,562 shares of the company’s stock after selling 2,693 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Brighthouse Financial were worth $1,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Edgestream Partners LP boosted its holdings in shares of Brighthouse Financial by 12.7% during the second quarter. Edgestream Partners LP now owns 153,789 shares of the company’s stock valued at $6,665,000 after purchasing an additional 17,329 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Brighthouse Financial by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 40,032 shares of the company’s stock valued at $1,735,000 after purchasing an additional 3,681 shares during the period. Federated Hermes Inc. lifted its position in shares of Brighthouse Financial by 13.3% during the second quarter. Federated Hermes Inc. now owns 15,148 shares of the company’s stock worth $657,000 after purchasing an additional 1,783 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Brighthouse Financial by 21.9% during the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after buying an additional 228,814 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Brighthouse Financial by 4.5% during the second quarter. Headlands Technologies LLC now owns 15,686 shares of the company’s stock valued at $680,000 after buying an additional 669 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s shares.

Insider activity at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares of the company’s stock, valued at $4,428,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at $4,428,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the transaction, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. The disclosure for this sale can be found here. Insiders sold a total of 42,125 shares of company stock worth $1,895,248 over the last quarter. Insiders own 1.40% of the company’s shares.

Brighthouse Financial Price Performance

Shares of BHF stock opened at $44.29 on Friday. Brighthouse Financial, Inc. it has a 52-week low of $40.00 and a 52-week high of $56.24. The company has a current ratio of 0.85, a quick ratio of 0.85, and a debt-to-equity ratio of 0.75. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -2.33 and a beta of 1.06. The stock has a 50-day moving average of $44.67 and a 200-day moving average of $45.81.

Brighthouse Financial (NASDAQ:BHF – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The company’s revenue increased by 3.3% year-on-year. In the same quarter last year, the company posted earnings per share of $4.13. As a group, analysts estimate that Brighthouse Financial, Inc. will record 18.16 EPS for the current year.

Analyst upgrades and downgrades

A number of equities analysts have commented on BHF shares. Jefferies Financial Group boosted their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Wells Fargo & Company downgraded Brighthouse Financial from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $51.00 to $40.00 in a report on Monday , August 12. Keefe, Bruyette & Woods cut their price target on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Piper Sandler cut their price target on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Brighthouse Financial has an average rating of “Hold” and a consensus price target of $50.25, according to MarketBeat.

Get the latest stock analysis on BHF

Brighthouse Financial Profile

(Free Report)

Brighthouse Financial, Inc offers annuity and life insurance products in the United States. It operates through three segments: annuities, life and drawdown. The annuities segment consists of variable, fixed, indexed and income annuities for the needs of holders of tax-deferred, wealth transfer and income security protected wealth accumulation contracts.

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