Corsair Capital Management L.P. Decreases Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Corsair Capital Management L.P. reduced its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 35.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,027 shares of the company’s stock after selling 5,600 shares during the period. Corsair Capital Management L.P.’s holdings in Brighthouse Financial were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BHF. Price T Rowe Associates Inc. MD lifted its stake in shares of Brighthouse Financial by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,823 shares of the company’s stock worth $1,744,000 after buying an additional 1,804 shares in the last quarter. EMC Capital Management increased its position in shares of Brighthouse Financial by 216.0% during the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after acquiring an additional 2,581 shares during the last quarter. Algebris UK Ltd acquired a new stake in shares of Brighthouse Financial during the first quarter valued at about $6,938,000. Harbor Capital Advisors Inc. increased its position in shares of Brighthouse Financial by 11.1% during the second quarter. Harbor Capital Advisors Inc. now owns 20,745 shares of the company’s stock valued at $899,000 after acquiring an additional 2,076 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Brighthouse Financial during the second quarter valued at about $388,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP John Rosenthal sold 4,265 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the completion of the transaction, the executive vice president now owns 86,262 shares in the company, valued at approximately $3,971,502.48. This represents a 4.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $53.04 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $56.24. The firm has a 50 day moving average of $47.60 and a two-hundred day moving average of $45.59.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.51). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm earned $4.18 EPS. Sell-side analysts predict that Brighthouse Financial, Inc. will post 18.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BHF. Wells Fargo & Company lifted their price target on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Evercore ISI dropped their price target on shares of Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Piper Sandler raised their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Barclays assumed coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price objective for the company. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.63.

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.