Harbor Capital Advisors Inc. Increases Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Harbor Capital Advisors Inc. boosted its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 11.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 20,745 shares of the company’s stock after buying an additional 2,076 shares during the period. Harbor Capital Advisors Inc.’s holdings in Brighthouse Financial were worth $899,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BHF. Lindbrook Capital LLC increased its stake in Brighthouse Financial by 412.3% during the 4th quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock worth $29,000 after buying an additional 437 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Brighthouse Financial during the 4th quarter worth approximately $60,000. Quadrant Capital Group LLC boosted its holdings in shares of Brighthouse Financial by 36.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Brighthouse Financial during the 1st quarter worth approximately $110,000. Finally, Bfsg LLC acquired a new position in shares of Brighthouse Financial during the 4th quarter worth approximately $167,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Brighthouse Financial

In other news, Director Michael J. Inserra acquired 2,500 shares of Brighthouse Financial stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $43.20 per share, for a total transaction of $108,000.00. Following the completion of the purchase, the director now owns 5,500 shares of the company’s stock, valued at $237,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Brighthouse Financial news, Director Michael J. Inserra bought 2,500 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $43.20 per share, for a total transaction of $108,000.00. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $237,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the sale, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF traded up $0.45 during midday trading on Wednesday, reaching $44.41. The company’s stock had a trading volume of 217,587 shares, compared to its average volume of 447,744. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average price of $44.99 and a 200 day moving average price of $47.28. Brighthouse Financial, Inc. has a one year low of $40.24 and a one year high of $56.24. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -2.33 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.29. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the company earned $2.86 earnings per share. Brighthouse Financial’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Brighthouse Financial, Inc. will post 15.01 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BHF. Keefe, Bruyette & Woods upgraded Brighthouse Financial from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $48.00 to $47.00 in a report on Monday, June 17th. Wells Fargo & Company decreased their price objective on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Jefferies Financial Group upped their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 29th. Piper Sandler decreased their price objective on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI decreased their price target on Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.00.

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.