Pinnacle Holdings LLC Sells 412 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Pinnacle Holdings LLC reduced its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,885 shares of the company’s stock after selling 412 shares during the quarter. Pinnacle Holdings LLC owned 0.08% of Brighthouse Financial worth $2,661,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. American Century Companies Inc. boosted its position in shares of Brighthouse Financial by 9.3% during the first quarter. American Century Companies Inc. now owns 1,838,020 shares of the company’s stock worth $106,587,000 after buying an additional 155,944 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Brighthouse Financial by 187.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company’s stock worth $87,585,000 after buying an additional 1,188,685 shares during the period. Victory Capital Management Inc. boosted its position in shares of Brighthouse Financial by 3.2% during the first quarter. Victory Capital Management Inc. now owns 912,242 shares of the company’s stock worth $52,901,000 after buying an additional 28,080 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Brighthouse Financial by 3.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 732,689 shares of the company’s stock worth $35,198,000 after buying an additional 24,662 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Brighthouse Financial by 4.1% during the fourth quarter. Northern Trust Corp now owns 678,920 shares of the company’s stock worth $32,615,000 after buying an additional 26,813 shares during the period. 81.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BHF has been the subject of several recent research reports. Barclays reduced their price objective on Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Keefe, Bruyette & Woods reduced their price target on Brighthouse Financial from $57.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, August 11th. Morgan Stanley reduced their price target on Brighthouse Financial from $45.00 to $42.00 and set an “underweight” rating for the company in a research report on Monday, July 14th. Wall Street Zen cut Brighthouse Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, JPMorgan Chase & Co. increased their price target on Brighthouse Financial from $56.00 to $63.00 and gave the company an “underweight” rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.67.

Insider Activity

In other news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $59.51, for a total value of $178,530.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Brighthouse Financial Price Performance

Brighthouse Financial stock opened at $45.68 on Friday. The stock’s fifty day moving average price is $51.55 and its two-hundred day moving average price is $55.12. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $64.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.91. The firm has a market cap of $2.61 billion, a PE ratio of 4.94 and a beta of 0.88.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($1.27). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a return on equity of 21.06% and a net margin of 10.24%. Brighthouse Financial’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $5.57 EPS. As a group, research analysts expect that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

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.