Xponance Inc. cut its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,705 shares of the company’s stock after selling 388 shares during the quarter. Xponance Inc.’s holdings in Brighthouse Financial were worth $412,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in Brighthouse Financial by 379.2% during the second quarter. Pacer Advisors Inc. now owns 14,453 shares of the company’s stock worth $684,000 after buying an additional 11,437 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Brighthouse Financial during the second quarter worth $2,293,000. Lumbard & Kellner LLC raised its holdings in Brighthouse Financial by 0.5% during the first quarter. Lumbard & Kellner LLC now owns 68,476 shares of the company’s stock worth $3,027,000 after buying an additional 350 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Brighthouse Financial by 70.9% during the first quarter. JPMorgan Chase & Co. now owns 214,036 shares of the company’s stock worth $9,440,000 after buying an additional 88,780 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Brighthouse Financial by 0.7% during the first quarter. Geode Capital Management LLC now owns 1,021,615 shares of the company’s stock worth $45,063,000 after buying an additional 7,337 shares during the last quarter. 79.77% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on BHF shares. The Goldman Sachs Group downgraded shares of Brighthouse Financial from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $47.00 to $43.00 in a report on Thursday, September 21st. Jefferies Financial Group upped their price objective on shares of Brighthouse Financial from $46.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, September 14th. Morgan Stanley increased their target price on shares of Brighthouse Financial from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, August 18th. Piper Sandler lowered their target price on shares of Brighthouse Financial from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. Finally, Barclays increased their target price on shares of Brighthouse Financial from $42.00 to $49.00 in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.86.
Brighthouse Financial Stock Performance
Shares of BHF stock opened at $47.97 on Tuesday. The company has a market cap of $3.14 billion, a P/E ratio of -1.39 and a beta of 1.30. The firm has a 50-day moving average of $49.90 and a 200-day moving average of $46.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.79 and a quick ratio of 0.79. Brighthouse Financial, Inc. has a one year low of $39.24 and a one year high of $60.54.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $4.13 earnings per share for the quarter, beating the consensus estimate of $3.55 by $0.58. The company had revenue of $263.00 million during the quarter, compared to analyst estimates of $2.07 billion. Brighthouse Financial had a negative net margin of 65.81% and a positive return on equity of 14.27%. During the same quarter in the prior year, the business earned $3.29 earnings per share. Equities research analysts forecast that Brighthouse Financial, Inc. will post 15.17 EPS for the current fiscal year.
About Brighthouse Financial
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, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.
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