Thrivent Financial for Lutherans Sells 134,651 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Posted by on May 14th, 2023

Thrivent Financial for Lutherans reduced its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) by 55.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,631 shares of the company’s stock after selling 134,651 shares during the quarter. Thrivent Financial for Lutherans owned 0.16% of Brighthouse Financial worth $5,519,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Bleakley Financial Group LLC acquired a new position in Brighthouse Financial during the fourth quarter valued at approximately $324,000. Envestnet Asset Management Inc. boosted its position in Brighthouse Financial by 15.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 9,674 shares of the company’s stock valued at $496,000 after purchasing an additional 1,313 shares during the last quarter. Bogart Wealth LLC lifted its position in shares of Brighthouse Financial by 0.5% in the fourth quarter. Bogart Wealth LLC now owns 184,963 shares of the company’s stock valued at $190,000 after buying an additional 954 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Brighthouse Financial in the fourth quarter valued at approximately $943,000. Finally, Meitav Dash Investments Ltd. acquired a new stake in shares of Brighthouse Financial in the fourth quarter valued at approximately $219,000. 79.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley cut their price objective on Brighthouse Financial from $64.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 12th. The Goldman Sachs Group lowered their target price on Brighthouse Financial from $61.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 5th. Jefferies Financial Group increased their target price on Brighthouse Financial from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, February 21st. Raymond James initiated coverage on Brighthouse Financial in a report on Wednesday, February 8th. They issued a “market perform” rating for the company. Finally, Piper Sandler dropped their price objective on Brighthouse Financial from $46.00 to $44.00 in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and a consensus price target of $51.38.

Brighthouse Financial Trading Down 2.7 %

Shares of BHF stock opened at $39.86 on Friday. The firm has a market capitalization of $2.68 billion, a P/E ratio of -12.90 and a beta of 1.26. Brighthouse Financial, Inc. has a twelve month low of $38.38 and a twelve month high of $60.54. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $43.85 and its 200 day simple moving average is $50.80.

Brighthouse Financial (NASDAQ:BHF – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.29). Brighthouse Financial had a net margin of 0.06% and a return on equity of 10.36%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted $4.07 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Brighthouse Financial, Inc. will post 14.36 EPS for the current fiscal year.

About Brighthouse Financial

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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.

Further Reading

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

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