Eric T. Steigerwalt Purchases 12,500 Shares of Brighthouse Financial Inc (NASDAQ:BHF) Stock

Brighthouse Financial Inc (NASDAQ:BHF) insider Eric T. Steigerwalt bought 12,500 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $34.04 per share, with a total value of $425,500.00. Following the completion of the purchase, the insider now owns 111,239 shares of the company’s stock, valued at approximately $3,786,575.56. The acquisition was disclosed in a filing with the SEC, which is available through this link.

BHF stock traded up $1.41 during midday trading on Tuesday, reaching $35.15. The stock had a trading volume of 1,470,534 shares, compared to its average volume of 1,508,914. The business’s fifty day moving average price is $36.88. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 0.36 and a beta of 2.04. Brighthouse Financial Inc has a twelve month low of $28.52 and a twelve month high of $47.33.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Monday, August 5th. The company reported $2.56 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.33. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.03 billion. Brighthouse Financial had a return on equity of 6.74% and a net margin of 9.61%. During the same period last year, the company earned $1.68 earnings per share. Equities analysts anticipate that Brighthouse Financial Inc will post 8.67 EPS for the current year.

A number of hedge funds have recently made changes to their positions in BHF. ETF Managers Group LLC grew its position in shares of Brighthouse Financial by 9.9% during the 1st quarter. ETF Managers Group LLC now owns 2,785 shares of the company’s stock worth $101,000 after buying an additional 250 shares during the period. AGF Investments America Inc. lifted its holdings in shares of Brighthouse Financial by 7.2% during the 1st quarter. AGF Investments America Inc. now owns 4,075 shares of the company’s stock valued at $148,000 after purchasing an additional 272 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Brighthouse Financial by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 115,036 shares of the company’s stock valued at $4,221,000 after purchasing an additional 354 shares in the last quarter. Strs Ohio lifted its holdings in shares of Brighthouse Financial by 34.6% during the 1st quarter. Strs Ohio now owns 1,440 shares of the company’s stock valued at $52,000 after purchasing an additional 370 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Brighthouse Financial by 8.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,704 shares of the company’s stock valued at $207,000 after purchasing an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.

BHF has been the subject of a number of research reports. BidaskClub upgraded Brighthouse Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Zacks Investment Research lowered Brighthouse Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. TheStreet upgraded Brighthouse Financial from a “d+” rating to a “c-” rating in a research note on Thursday, April 25th. Credit Suisse Group lowered Brighthouse Financial from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $22.00 in a research note on Tuesday, June 25th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $45.00 price objective on shares of Brighthouse Financial in a research report on Tuesday, May 7th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.11.

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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