Bryce Point Capital LLC Sells 17,876 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Bryce Point Capital LLC reduced its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 58.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,578 shares of the company’s stock after selling 17,876 shares during the quarter. Bryce Point Capital LLC’s holdings in Brighthouse Financial were worth $694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Brighthouse Financial by 188.0% in the first quarter. Versant Capital Management Inc now owns 622 shares of the company’s stock valued at $36,000 after acquiring an additional 406 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in Brighthouse Financial by 327.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company’s stock valued at $44,000 after acquiring an additional 703 shares during the period. UMB Bank n.a. lifted its holdings in Brighthouse Financial by 101.7% in the first quarter. UMB Bank n.a. now owns 1,200 shares of the company’s stock valued at $70,000 after acquiring an additional 605 shares during the period. Siemens Fonds Invest GmbH bought a new position in Brighthouse Financial in the fourth quarter valued at about $94,000. Finally, GAMMA Investing LLC lifted its holdings in Brighthouse Financial by 11.0% in the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company’s stock valued at $118,000 after acquiring an additional 202 shares during the period. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Stock Up 1.3%

NASDAQ BHF opened at $50.21 on Monday. The stock’s 50-day moving average price is $55.29 and its 200-day moving average price is $55.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12. The company has a market capitalization of $2.88 billion, a P/E ratio of 6.02 and a beta of 0.88.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.55). Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the business earned $4.25 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Insider Activity

In related news, EVP Vonda Huss sold 3,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $59.51, for a total transaction of $178,530.00. Following the completion of the sale, the executive vice president owned 18,441 shares in the company, valued at approximately $1,097,423.91. This trade represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BHF. JPMorgan Chase & Co. increased their target price on Brighthouse Financial from $56.00 to $63.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their target price on Brighthouse Financial from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Piper Sandler lowered their target price on Brighthouse Financial from $63.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, July 3rd. Morgan Stanley lowered their target price on Brighthouse Financial from $45.00 to $42.00 and set an “underweight” rating on the stock in a report on Monday, July 14th. Finally, Wall Street Zen downgraded Brighthouse Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.30.

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 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.