Brighthouse Financial, Inc. (NASDAQ:BHF) Position Cut by Kestrel Investment Management Corp

Kestrel Investment Management Corp trimmed its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 18.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,600 shares of the company’s stock after selling 20,900 shares during the quarter. Brighthouse Financial comprises 3.3% of Kestrel Investment Management Corp’s portfolio, making the stock its 11th largest holding. Kestrel Investment Management Corp owned about 0.14% of Brighthouse Financial worth $4,900,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Brighthouse Financial by 0.7% in the 2nd quarter. BlackRock Inc. now owns 6,758,437 shares of the company’s stock worth $320,012,000 after buying an additional 46,528 shares in the last quarter. State Street Corp boosted its stake in Brighthouse Financial by 4.2% during the 1st quarter. State Street Corp now owns 2,354,170 shares of the company’s stock valued at $121,616,000 after purchasing an additional 94,816 shares in the last quarter. Royal Bank of Canada boosted its stake in Brighthouse Financial by 29.7% during the 3rd quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock valued at $101,496,000 after purchasing an additional 475,327 shares in the last quarter. Geode Capital Management LLC boosted its stake in Brighthouse Financial by 0.7% during the 1st quarter. Geode Capital Management LLC now owns 1,021,615 shares of the company’s stock valued at $45,063,000 after purchasing an additional 7,337 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Brighthouse Financial by 4.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 928,329 shares of the company’s stock valued at $38,080,000 after purchasing an additional 39,954 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.96, for a total value of $1,174,000.00. Following the completion of the sale, the chief executive officer now owns 390,765 shares in the company, valued at $18,350,324.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 value of $468,500.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was 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 $18,350,324.40. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF traded up $1.33 on Friday, reaching $48.91. 379,320 shares of the company traded hands, compared to its average volume of 420,259. Brighthouse Financial, Inc. has a fifty-two week low of $39.24 and a fifty-two week high of $56.24. The company’s 50 day moving average is $48.29 and its 200-day moving average is $49.70. The stock has a market capitalization of $3.08 billion, a PE ratio of -2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.80 and a quick ratio of 0.80.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $2.13 billion. Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. During the same quarter last year, the company posted $3.51 EPS. As a group, analysts anticipate that Brighthouse Financial, Inc. will post 17.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.