Nisa Investment Advisors LLC Sells 2,855 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Nisa Investment Advisors LLC reduced its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 23.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,267 shares of the company’s stock after selling 2,855 shares during the period. Nisa Investment Advisors LLC’s holdings in Brighthouse Financial were worth $417,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in Brighthouse Financial by 974.1% during the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after buying an additional 565 shares during the last quarter. CWM LLC raised its position in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares during the period. GAMMA Investing LLC boosted its stake in Brighthouse Financial by 97.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after acquiring an additional 855 shares during the last quarter. Quarry LP acquired a new position in Brighthouse Financial during the second quarter valued at approximately $89,000. Finally, EntryPoint Capital LLC bought a new stake in Brighthouse Financial in the first quarter valued at approximately $110,000. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BHF shares. Jefferies Financial Group boosted their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 29th. Evercore ISI decreased their target price on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Piper Sandler increased their price target on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Barclays initiated coverage on Brighthouse Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.63.

Brighthouse Financial Stock Down 0.3 %

Shares of Brighthouse Financial stock opened at $47.31 on Wednesday. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $56.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50 day simple moving average is $45.44 and its 200 day simple moving average is $45.36. The firm has a market cap of $2.87 billion, a PE ratio of -2.97 and a beta of 1.05.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm posted $4.13 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Brighthouse Financial, Inc. will post 18.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Brighthouse Financial

In other news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the transaction, the chief financial officer now directly owns 37,640 shares in the company, valued at $1,571,093.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the sale, the chief executive officer now directly owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the transaction, the chief financial officer now directly owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,390 shares of company stock worth $1,861,608. Insiders own 1.40% of the company’s stock.

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.