New Mexico Educational Retirement Board raised its stake in Brighthouse Financial Inc (NASDAQ:BHF) by 103.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,200 shares of the company’s stock after buying an additional 10,274 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Brighthouse Financial were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Brighthouse Financial by 10.0% during the fourth quarter. Geode Capital Management LLC now owns 1,755,585 shares of the company’s stock worth $53,431,000 after purchasing an additional 159,787 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Brighthouse Financial by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 941,405 shares of the company’s stock worth $28,700,000 after purchasing an additional 106,333 shares during the period. Schneider Capital Management Corp raised its position in shares of Brighthouse Financial by 0.3% during the first quarter. Schneider Capital Management Corp now owns 898,411 shares of the company’s stock worth $32,603,000 after purchasing an additional 2,860 shares during the period. Clearbridge Investments LLC raised its position in shares of Brighthouse Financial by 17.5% during the first quarter. Clearbridge Investments LLC now owns 862,390 shares of the company’s stock worth $31,296,000 after purchasing an additional 128,543 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Brighthouse Financial by 21.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 752,016 shares of the company’s stock worth $27,591,000 after purchasing an additional 132,844 shares during the period. 92.55% of the stock is currently owned by hedge funds and other institutional investors.
BHF stock traded down $0.02 during mid-day trading on Wednesday, reaching $34.60. The company had a trading volume of 96,478 shares, compared to its average volume of 1,007,006. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a 50 day simple moving average of $36.47 and a two-hundred day simple moving average of $38.13. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 0.35 and a beta of 2.04. Brighthouse Financial Inc has a 52 week low of $28.52 and a 52 week high of $47.33.
In other Brighthouse Financial news, insider Eric T. Steigerwalt bought 12,500 shares of Brighthouse Financial stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $34.04 per share, for a total transaction of $425,500.00. Following the purchase, the insider now owns 111,239 shares of the company’s stock, valued at approximately $3,786,575.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Rosenthal bought 10,000 shares of Brighthouse Financial stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $35.61 per share, with a total value of $356,100.00. Following the completion of the purchase, the executive vice president now directly owns 33,916 shares in the company, valued at approximately $1,207,748.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 31,441 shares of company stock valued at $1,091,409. Corporate insiders own 0.23% of the company’s stock.
BHF has been the topic of a number of research analyst reports. Zacks Investment Research lowered Brighthouse Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Morgan Stanley dropped their price target on Brighthouse Financial from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. Goldman Sachs Group lowered Brighthouse Financial from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $39.00 to $32.00 in a research report on Tuesday, June 25th. BidaskClub upgraded Brighthouse Financial from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Finally, Credit Suisse Group downgraded Brighthouse Financial from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $35.00 to $22.00 in a report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.89.
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 offers 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.
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