Brighthouse Financial, Inc. (NASDAQ:BHF) Holdings Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 773,623 shares of the company’s stock after selling 26,782 shares during the period. Bank of New York Mellon Corp owned approximately 1.12% of Brighthouse Financial worth $33,590,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ellevest Inc. grew its stake in shares of Brighthouse Financial by 206.3% in the 3rd quarter. Ellevest Inc. now owns 585 shares of the company’s stock worth $25,000 after purchasing an additional 394 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Brighthouse Financial by 1,414.3% in the second quarter. Lazard Asset Management LLC now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 594 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Brighthouse Financial during the 3rd quarter valued at $28,000. Quadrant Capital Group LLC boosted its stake in shares of Brighthouse Financial by 112.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 940 shares of the company’s stock worth $41,000 after acquiring an additional 498 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Brighthouse Financial by 42.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,148 shares of the company’s stock worth $47,000 after acquiring an additional 342 shares during the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Brighthouse Financial Price Performance

BHF opened at $45.13 on Tuesday. The stock has a fifty day moving average price of $55.55 and a 200 day moving average price of $52.51. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.52. Brighthouse Financial, Inc. has a 1 year low of $38.38 and a 1 year high of $60.54. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -14.61 and a beta of 1.31.

Brighthouse Financial (NASDAQ:BHF – Get Rating) last announced its quarterly earnings results on Friday, February 10th. The company reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $1.46. Brighthouse Financial had a return on equity of 10.36% and a net margin of 0.06%. The business had revenue of $454.00 million during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the company earned $5.18 EPS. The firm’s revenue was down 77.5% on a year-over-year basis. Analysts forecast that Brighthouse Financial, Inc. will post 14.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BHF shares. Wells Fargo & Company upped their target price on Brighthouse Financial from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 13th. Raymond James began coverage on shares of Brighthouse Financial in a report on Wednesday, February 8th. They issued a “market perform” rating for the company. Morgan Stanley dropped their target price on shares of Brighthouse Financial from $65.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, February 24th. Jefferies Financial Group upped their price target 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. Finally, Piper Sandler lowered their price objective on shares of Brighthouse Financial from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 20th. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.13.

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.