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A company insider recently sold 25,000 shares of Brighthouse Financial Inc [BHF]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Brighthouse Financial Inc shares valued at $1,174,012 were sold by Steigerwalt Eric T on Feb 26 ’24. At $46.96 per share, Steigerwalt Eric T sold 25,000 shares. The insider’s holdings dropped to 390,765 shares worth approximately $19.05 million following the completion of this transaction.

Also, Lambert Myles sold 10,000 shares, netting a total of over 471,100 in proceeds. Following the sale of shares at $47.11 each, the insider now holds 61,984 shares.

Before that, Rosenthal John had sold 10,000 shares from its account. In a trade valued at $468,600, the EVP & Chief Investment Officer traded Brighthouse Financial Inc shares for $46.86 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $5.43 million.

As published in a research note from Morgan Stanley on February 23, 2024, Brighthouse Financial Inc [BHF] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $52. Analysts at Keefe Bruyette downgraded the stock from ‘”a Mkt perform”‘ to ‘”an Underperform”‘ outlook in a report released in mid December. As of September 21, 2023, Goldman has decreased its “Neutral” rating to a “Sell” for BHF. Earlier on February 08, 2023, Raymond James initiated its rating. Their recommendation was “a Mkt perform” for BHF stock.

Analyzing BHF Stock Performance

During the last five days, there has been a drop of approximately -3.47%. Over the course of the year, Brighthouse Financial Inc shares have dropped approximately -7.88%. Shares of the company reached a 52-week high of $54.73 on 02/12/24 and a 52-week low of $43.47 on 03/08/24. A 50-day SMA is recorded $48.33, while a 200-day SMA reached $49.69. Nevertheless, trading volume fell to 0.62 million shares from 0.32 million shares the previous day.

Support And Resistance Levels for Brighthouse Financial Inc (BHF)

According to the 24-hour chart, there is a support level at 48.01, which, if violated, would cause prices to drop to 47.27. In the upper region, resistance lies at 49.52. The next price resistance is at 50.28. RSI (Relative Strength Index) is 49.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 44.36%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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