Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in Brighthouse Financial, Inc. (NASDAQ:BHF) by 52.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,650 shares of the company’s stock after selling 9,631 shares during the quarter. Mackenzie Financial Corp’s holdings in Brighthouse Financial were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BHF. American Century Companies Inc. lifted its stake in Brighthouse Financial by 21.8% during the third quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after purchasing an additional 119,345 shares during the last quarter. Richard Bernstein Advisors LLC acquired a new stake in Brighthouse Financial during the third quarter worth approximately $2,819,000. Lazard Asset Management LLC lifted its position in shares of Brighthouse Financial by 80.5% during the 3rd quarter. Lazard Asset Management LLC now owns 315,763 shares of the company’s stock worth $15,452,000 after buying an additional 140,796 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Brighthouse Financial by 94.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 82,620 shares of the company’s stock valued at $4,043,000 after buying an additional 40,194 shares in the last quarter. Finally, Xponance Inc. grew its position in shares of Brighthouse Financial by 4.5% in the 3rd quarter. Xponance Inc. now owns 9,099 shares of the company’s stock valued at $445,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Performance

Shares of BHF opened at $48.73 on Friday. Brighthouse Financial, Inc. has a 1 year low of $39.24 and a 1 year high of $56.24. The stock has a market capitalization of $3.05 billion, a P/E ratio of -2.63 and a beta of 1.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80. The company’s fifty day moving average is $48.33 and its two-hundred day moving average is $49.78.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $2.92 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. During the same period in the prior year, the firm posted $3.51 EPS. On average, sell-side analysts predict that Brighthouse Financial, Inc. will post 17.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BHF. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $50.00 price target on shares of Brighthouse Financial in a research report on Friday, February 16th. Piper Sandler boosted their target price on Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company upped their target price on Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley lowered shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 target price on the stock. in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, Brighthouse Financial has an average rating of “Hold” and a consensus price target of $51.14.

Insider Buying and Selling

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.96, for a total value of $1,174,000.00. Following the completion of the sale, the chief executive officer now owns 390,765 shares of the company’s stock, valued at $18,350,324.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the transaction, the chief executive officer now directly owns 390,765 shares in the company, valued at $18,350,324.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the sale, the executive vice president now owns 27,080 shares of the company’s stock, valued at $1,268,698. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Brighthouse Financial Company Profile

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 consists of 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.