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

Bank of New York Mellon Corp cut its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,684 shares of the company’s stock after selling 15,704 shares during the period. Bank of New York Mellon Corp owned approximately 0.88% of Brighthouse Financial worth $29,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in shares of Brighthouse Financial in the 1st quarter worth approximately $780,000. Highland Capital Management LLC acquired a new position in shares of Brighthouse Financial in the 1st quarter worth approximately $285,000. SG Americas Securities LLC lifted its holdings in shares of Brighthouse Financial by 1,764.2% in the 1st quarter. SG Americas Securities LLC now owns 121,229 shares of the company’s stock worth $7,030,000 after acquiring an additional 114,726 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Brighthouse Financial by 11.0% in the 1st quarter. GAMMA Investing LLC now owns 2,035 shares of the company’s stock worth $118,000 after acquiring an additional 202 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Brighthouse Financial by 24.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 21,705 shares of the company’s stock worth $1,259,000 after acquiring an additional 4,295 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Brighthouse Financial

In related news, EVP Vonda Huss sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total transaction of $178,530.00. Following the completion of the transaction, the executive vice president owned 18,441 shares of the company’s stock, valued at approximately $1,097,423.91. This represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Brighthouse Financial Stock Performance

Shares of BHF opened at $47.32 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.72 billion, a P/E ratio of 5.67 and a beta of 0.88. The company has a 50-day moving average of $56.72 and a two-hundred day moving average of $55.38. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.12.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Thursday, May 8th. The company reported $4.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.55). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.29 billion. Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.25 EPS. As a group, research analysts predict that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BHF shares. Barclays cut their target price on shares of Brighthouse Financial from $76.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 7th. UBS Group set a $72.00 price objective on shares of Brighthouse Financial in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods increased their price objective on shares of Brighthouse Financial from $56.00 to $59.00 and gave the company a “market perform” rating in a research report on Tuesday, May 13th. Morgan Stanley dropped their price objective on shares of Brighthouse Financial from $45.00 to $42.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, Wall Street Zen downgraded shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.30.

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.