Brighthouse Financial Inc (NASDAQ:BHF) insider Eric T. Steigerwalt bought 12,500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $34.04 per share, for a total transaction of $425,500.00. Following the completion of the acquisition, the insider now owns 111,239 shares in the company, valued at approximately $3,786,575.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Brighthouse Financial stock opened at $33.82 on Friday. The stock has a market cap of $3.92 billion, a P/E ratio of 4.22, a P/E/G ratio of 0.36 and a beta of 2.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.27. Brighthouse Financial Inc has a twelve month low of $28.52 and a twelve month high of $47.33. The company’s 50-day moving average price is $36.83 and its two-hundred day moving average price is $38.27.
Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Monday, August 5th. The company reported $2.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.33. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Brighthouse Financial had a net margin of 9.61% and a return on equity of 6.74%. During the same period in the prior year, the firm earned $1.68 EPS. Equities analysts anticipate that Brighthouse Financial Inc will post 8.67 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in BHF. BlackRock Inc. raised its holdings in Brighthouse Financial by 25.6% in the 2nd quarter. BlackRock Inc. now owns 11,820,754 shares of the company’s stock valued at $433,707,000 after acquiring an additional 2,412,741 shares during the period. AQR Capital Management LLC increased its holdings in shares of Brighthouse Financial by 3,835.0% during the second quarter. AQR Capital Management LLC now owns 1,198,214 shares of the company’s stock worth $43,184,000 after purchasing an additional 1,167,764 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Brighthouse Financial by 8,316.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 619,172 shares of the company’s stock worth $22,471,000 after purchasing an additional 611,815 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Brighthouse Financial during the second quarter worth approximately $19,980,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Brighthouse Financial by 37.7% during the second quarter. Bank of New York Mellon Corp now owns 1,593,115 shares of the company’s stock worth $58,451,000 after purchasing an additional 436,557 shares during the period. 87.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Co reaffirmed a “hold” rating and issued a $45.00 target price on shares of Brighthouse Financial in a report on Tuesday, May 7th. BidaskClub raised shares of Brighthouse Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lowered their price target on shares of Brighthouse Financial from $46.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Zacks Investment Research cut shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Bank of America lowered their price target on shares of Brighthouse Financial from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Brighthouse Financial has a consensus rating of “Hold” and an average price target of $38.11.
Brighthouse Financial Company 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 offers 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.
Featured Article: How Do You Calculate Return on Equity (ROE)?
Receive News & Ratings for Brighthouse Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brighthouse Financial and related companies with MarketBeat.com's FREE daily email newsletter.