Whittier Trust Co. of Nevada Inc. Boosts Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Posted by on Apr 8th, 2023

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) by 98.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 717 shares of the company’s stock after buying an additional 355 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Brighthouse Financial were worth $37,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BHF. First Trust Advisors LP increased its stake in shares of Brighthouse Financial by 1,877.6% in the third quarter. First Trust Advisors LP now owns 474,219 shares of the company’s stock worth $20,591,000 after purchasing an additional 450,240 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Brighthouse Financial by 11.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,476,017 shares of the company’s stock worth $150,931,000 after purchasing an additional 361,359 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Brighthouse Financial by 47.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 992,297 shares of the company’s stock worth $43,086,000 after purchasing an additional 320,191 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Brighthouse Financial by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 888,375 shares of the company’s stock worth $45,894,000 after purchasing an additional 317,322 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in shares of Brighthouse Financial in the third quarter worth about $11,289,000. Hedge funds and other institutional investors own 79.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Brighthouse Financial from $56.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. Raymond James assumed coverage on shares of Brighthouse Financial in a research report on Wednesday, February 8th. They issued a “market perform” rating for the company. Jefferies Financial Group raised their price objective on shares of Brighthouse Financial from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, February 21st. Barclays raised their price objective on shares of Brighthouse Financial from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. Finally, Wells Fargo & Company raised their price objective on shares of Brighthouse Financial from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, February 13th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Brighthouse Financial currently has an average rating of “Hold” and a consensus target price of $54.50.

Brighthouse Financial Trading Up 0.4 %

Shares of Brighthouse Financial stock opened at $41.98 on Friday. The firm has a market cap of $2.84 billion, a PE ratio of -13.59 and a beta of 1.26. Brighthouse Financial, Inc. has a 1 year low of $38.38 and a 1 year high of $60.54. The company has a 50 day simple moving average of $51.44 and a two-hundred day simple moving average of $51.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.61 and a quick ratio of 0.61.

Brighthouse Financial (NASDAQ:BHF – Get Rating) last posted its quarterly earnings results on Friday, February 10th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $2.05 by $1.46. The firm had revenue of $454.00 million for the quarter, compared to the consensus estimate of $1.99 billion. Brighthouse Financial had a net margin of 0.06% and a return on equity of 10.36%. The business’s revenue was down 77.5% compared to the same quarter last year. During the same period last year, the firm posted $5.18 earnings per share. Analysts expect that Brighthouse Financial, Inc. will post 14.53 earnings per share for the current fiscal year.

Brighthouse Financial Company Profile

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Brighthouse Financial, Inc operates as a holding company, which engages in the provision of life insurance and annuities through independent distribution channels and marketing arrangements with a diverse network of distribution partners. It operates through the following segments: Annuities, Life, Run-Off, and Corporate & Others.

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Institutional Ownership by Quarter for Brighthouse Financial (NASDAQ:BHF)

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