Fox Run Management L.L.C. Buys New Position in Brighthouse Financial, Inc. $BHF

Fox Run Management L.L.C. purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) in the 1st quarter, HoldingsChannel reports. The firm purchased 6,242 shares of the company’s stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BHF. Bank of Montreal Can increased its position in shares of Brighthouse Financial by 16.4% during the fourth quarter. Bank of Montreal Can now owns 9,047 shares of the company’s stock worth $435,000 after buying an additional 1,278 shares during the period. Invesco Ltd. lifted its holdings in Brighthouse Financial by 49.4% in the fourth quarter. Invesco Ltd. now owns 286,726 shares of the company’s stock valued at $13,774,000 after buying an additional 94,801 shares during the period. Raymond James Financial Inc. acquired a new position in Brighthouse Financial in the fourth quarter valued at $384,000. Barclays PLC lifted its holdings in Brighthouse Financial by 220.5% in the fourth quarter. Barclays PLC now owns 107,153 shares of the company’s stock valued at $5,148,000 after buying an additional 73,724 shares during the period. Finally, Mariner LLC lifted its holdings in Brighthouse Financial by 4.2% in the fourth quarter. Mariner LLC now owns 6,055 shares of the company’s stock valued at $291,000 after buying an additional 242 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Analysts Set New Price Targets

BHF has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Brighthouse Financial from $63.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their target price on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Barclays dropped their target price on shares of Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Wall Street Zen lowered shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Brighthouse Financial from $57.00 to $50.00 and set a “market perform” rating on the stock in a report on Monday, August 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.67.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $45.59 on Tuesday. The firm’s 50-day moving average price is $51.29 and its 200-day moving average price is $54.92. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $64.12. The firm has a market capitalization of $2.61 billion, a P/E ratio of 4.93 and a beta of 0.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $4.70 by ($1.27). The business 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%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.57 earnings per share. Equities research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $59.51, for a total value of $178,530.00. Following the completion of the sale, the executive vice president directly owned 18,441 shares of the company’s stock, valued at approximately $1,097,423.91. This represents a 13.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.