Brighthouse financial executive sells over $370k in company stock By Investing.com

Myles Lambert, the EVP and Chief Marketing & Distribution Officer of Brighthouse Financial , Inc. (NASDAQ:), has recently sold a total of 8,400 shares of company stock, as per the latest SEC filings. The transactions, which took place on June 3, fetched a combined total of approximately $372,120.

The stock sales were executed in multiple transactions with prices ranging from $44.05 to $44.65 per share. This price range represents a weighted average selling price of between $44.28 and $45.12 for the shares disposed of by Lambert. Following the sales, Lambert’s direct ownership in Brighthouse Financial stands at 50,207 shares.

It’s worth noting that these sales were carried out in accordance with a Rule 10b5-1 trading plan, which Lambert had adopted on February 27, 2024. Rule 10b5-1 plans allow company insiders to establish pre-arranged plans to buy or sell company stock at a time when they are not in possession of material, non-public information. This enables insiders to avoid potential accusations of insider trading by scheduling transactions in advance.

Investors and followers of Brighthouse Financial’s insider transactions can obtain further details regarding the exact number of shares sold at each price point within the reported range upon request to the company or the SEC.

The transactions by Lambert come as part of the regular financial dealings of company executives and are disclosed to the public in compliance with SEC regulations. Brighthouse Financial, headquartered in Charlotte, North Carolina, operates in the life insurance sector and is known for its range of insurance and investment products.

InvestingPro Insights

As Brighthouse Financial, Inc. (NASDAQ:BHF) navigates through its financial dealings, with insiders like Myles Lambert executing stock sales under a Rule 10b5-1 plan, it’s essential for investors to consider broader financial metrics and strategic moves by the company’s management. Here are some key insights based on the latest data and expert analysis from InvestingPro.

The company has been actively engaging in share buybacks, as indicated by the first InvestingPro Tip. This aggressive repurchase activity can be a sign of management’s confidence in the company’s value and future prospects. Additionally, analysts are showing a positive outlook for Brighthouse Financial, with three of them revising their earnings estimates upwards for the upcoming period, suggesting potential growth on the horizon.

From a financial data perspective, Brighthouse Financial has a market capitalization of $2.7 billion USD. Despite a notable decline in revenue over the last twelve months as of Q1 2024, with a decrease of 50.67%, the company has seen a quarterly revenue growth of 23.66% in Q1 2024. This recent uptick could be indicative of a turnaround or a positive response to strategic initiatives.

Moreover, the company’s liquid assets surpass short-term obligations, which points to a strong liquidity position. This financial stability is crucial, especially when considering that the company does not pay dividends, thus retaining earnings for operational growth and investment.

For investors interested in a deeper analysis and more of such insights, InvestingPro offers additional tips on Brighthouse Financial. There are currently 9 additional InvestingPro Tips available, which can be accessed through the platform. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more value to those looking to make informed investment decisions.

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