Kestrel Investment Management Corp Sells 20,900 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Kestrel Investment Management Corp cut its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,600 shares of the company’s stock after selling 20,900 shares during the period. Brighthouse Financial accounts for 3.3% of Kestrel Investment Management Corp’s portfolio, making the stock its 11th largest holding. Kestrel Investment Management Corp’s holdings in Brighthouse Financial were worth $4,900,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BHF. Envestnet Asset Management Inc. increased its stake in shares of Brighthouse Financial by 12.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,277 shares of the company’s stock worth $273,000 after purchasing an additional 564 shares during the last quarter. Raymond James & Associates grew its stake in Brighthouse Financial by 70.5% in the 1st quarter. Raymond James & Associates now owns 7,543 shares of the company’s stock valued at $390,000 after buying an additional 3,119 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Brighthouse Financial by 10.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the company’s stock valued at $255,000 after buying an additional 487 shares during the last quarter. Bank of Montreal Can grew its stake in Brighthouse Financial by 70.5% in the 1st quarter. Bank of Montreal Can now owns 14,122 shares of the company’s stock valued at $737,000 after buying an additional 5,841 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Brighthouse Financial by 30.2% in the 1st quarter. MetLife Investment Management LLC now owns 50,351 shares of the company’s stock valued at $2,601,000 after buying an additional 11,670 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Stock Up 2.8 %

Shares of NASDAQ BHF traded up $1.33 during mid-day trading on Friday, reaching $48.91. 379,320 shares of the company’s stock traded hands, compared to its average volume of 420,259. The stock has a market cap of $3.08 billion, a P/E ratio of -2.64 and a beta of 1.16. The business has a 50-day simple moving average of $48.29 and a 200 day simple moving average of $49.70. Brighthouse Financial, Inc. has a 1-year low of $39.24 and a 1-year high of $56.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.80 and a quick ratio of 0.80.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $2.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business earned $3.51 earnings per share. On average, analysts expect that Brighthouse Financial, Inc. will post 17.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.96, for a total value of $1,174,000.00. Following the sale, the chief executive officer now owns 390,765 shares of the company’s stock, valued at $18,350,324.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Vonda Huss sold 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.85, for a total value of $468,500.00. Following the completion of the sale, the executive vice president now owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BHF shares. Morgan Stanley lowered shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research note on Friday, February 23rd. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $50.00 price target on shares of Brighthouse Financial in a research note on Friday, February 16th. Piper Sandler upped their price target on shares of Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company upped their price target on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.14.

Brighthouse Financial 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.