Quarry LP Sells 565 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Quarry LP decreased its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 27.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,482 shares of the company’s stock after selling 565 shares during the period. Quarry LP’s holdings in Brighthouse Financial were worth $67,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Lighthouse Investment Partners LLC raised its position in shares of Brighthouse Financial by 204.6% in the second quarter. Lighthouse Investment Partners LLC now owns 135,730 shares of the company’s stock valued at $5,883,000 after purchasing an additional 91,175 shares during the period. Edgestream Partners L.P. raised its position in shares of Brighthouse Financial by 12.7% in the second quarter. Edgestream Partners L.P. 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. Assenagon Asset Management S.A. bought a new stake in shares of Brighthouse Financial in the second quarter valued at approximately $3,439,000. GSA Capital Partners LLP bought a new stake in shares of Brighthouse Financial in the third quarter valued at approximately $1,311,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Brighthouse Financial in the third quarter valued at approximately $1,404,000. Institutional investors own 81.24% of the company’s stock.

Insider Activity

In related news, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the sale, the executive vice president now directly owns 33,407 shares in the company, valued at $1,727,141.90. This represents a 20.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Rosenthal sold 4,265 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the sale, the executive vice president now owns 86,262 shares of the company’s stock, valued at $3,971,502.48. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Brighthouse Financial Price Performance

BHF stock opened at $51.04 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $56.24. The stock has a market cap of $3.03 billion, a PE ratio of -2.51 and a beta of 1.06. The firm has a 50 day simple moving average of $49.01 and a two-hundred day simple moving average of $45.98.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the firm earned $4.18 EPS. On average, analysts predict that Brighthouse Financial, Inc. will post 18.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Barclays assumed coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective for the company. Piper Sandler boosted their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.63.

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.