Retirement Systems of Alabama reduced its stake in shares of Brighthouse Financial, Inc. (NASDAQ: BHF – Get Rating) by 33.4% in Q1, HoldingsChannel reports. The company held 189,474 shares of the company after selling 94,848 shares during the period. Retirement Systems of Alabama’s holdings in Brighthouse Financial were worth $9,788,000 when it last filed with the SEC.

Other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. ProShare Advisors LLC increased its stake in Brighthouse Financial by 9.1% during the 4th quarter. ProShare Advisors LLC now owns 14,094 shares of the company worth $730,000 after purchasing an additional 1,175 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Brighthouse Financial during Q4 worth approximately $1,622,000. Yousif Capital Management LLC acquired a new position in shares of Brighthouse Financial during Q4 for a value of approximately $2,229,000. BNP Paribas Arbitrage SA increased its position in shares of Brighthouse Financial by 232.3% during the 4th quarter. BNP Paribas Arbitrage SA now owns 79,264 shares in the company worth $4,106,000 after acquiring an additional 55,410 shares last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Brighthouse Financial by 8.1% during the 4th quarter. The New York State Teachers’ Retirement System now owns 119,004 shares of the company worth $6,164,000 after acquiring an additional 8,931 shares in the last quarter. 81.47% of the shares are held by hedge funds and other institutional investors.

Shares of NASDAQ BHF opened at $42.61 on Tuesday. The company has a 50-day moving average price of $46.44 and a 200-day moving average price of $50.78. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt ratio of 0.25. The stock has a market capitalization of $3.19 billion, a PE ratio of 3.31 and a beta of 1.39. Brighthouse Financial, Inc. has a 52-week low of $38.82 and a 52-week high of $62.33.

Brighthouse Financial Inc (NASDAQ:BHF – Get Rating) last released quarterly earnings data on Monday, May 9. The company reported EPS of $4.07 for the quarter, beating the consensus estimate of $3.53 by $0.54. The company posted revenue of $2.30 billion in the quarter, versus a consensus estimate of $2.26 billion. Brighthouse Financial had a return on equity of 11.56% and a net margin of 12.49%. The company’s revenue decreased by 5.5% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $4.86. Sell-side analysts expect Brighthouse Financial, Inc. to post earnings per share of 14.76 for the current year.

BHF has been the subject of several analyst reports. Wells Fargo & Company upgraded Brighthouse Financial from an ‘underweight’ rating to an ‘equal weight’ rating and raised its price target for the stock from $53.00 to $54.00 in a research report Tuesday, April 12. Goldman Sachs Group raised its price target on Brighthouse Financial from $55.00 to $63.00 and gave the stock a “neutral” rating in a Tuesday, April 5 research report. Barclays lowered its price target on Brighthouse Financial from $61.00 to $55.00 and set an “equal weight” rating for the company in a Tuesday, April 12 research report. Piper Sandler raised her price target on Brighthouse Financial from $47.00 to $50.00 and gave the stock a “neutral” rating in a Friday, May 27 research report. Finally, Morgan Stanley lowered its price target on Brighthouse Financial from $65.00 to $64.00 and set an “equal weight” rating for the company in a Friday, April 8 research report. Seven investment analysts gave the stock a hold rating and one gave the company a buy rating. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.00.

Brighthouse Financial Profile (Get a rating)

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, indexed and income annuities for policyholders’ needs for tax-deferred protected wealth accumulation, wealth transfer and income security.

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Want to see which other hedge funds hold BHF? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating).

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