Bank of Montreal Can Trims Holdings in Brighthouse Financial, Inc. $BHF

Bank of Montreal Can decreased its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 11.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,010 shares of the company’s stock after selling 904 shares during the period. Bank of Montreal Can’s holdings in Brighthouse Financial were worth $377,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Strs Ohio increased its position in shares of Brighthouse Financial by 23.6% during the second quarter. Strs Ohio now owns 38,067 shares of the company’s stock valued at $2,047,000 after buying an additional 7,268 shares during the period. Teacher Retirement System of Texas grew its stake in Brighthouse Financial by 36.6% during the second quarter. Teacher Retirement System of Texas now owns 18,381 shares of the company’s stock valued at $988,000 after acquiring an additional 4,922 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Brighthouse Financial during the second quarter valued at approximately $801,000. Caitong International Asset Management Co. Ltd increased its holdings in Brighthouse Financial by 7,756.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,257 shares of the company’s stock worth $68,000 after acquiring an additional 1,241 shares during the period. Finally, Bogart Wealth LLC lifted its stake in Brighthouse Financial by 0.9% in the 2nd quarter. Bogart Wealth LLC now owns 206,760 shares of the company’s stock worth $11,117,000 after purchasing an additional 1,820 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock opened at $65.78 on Wednesday. The firm has a market capitalization of $3.76 billion, a PE ratio of 4.49 and a beta of 0.94. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. Brighthouse Financial, Inc. has a 12 month low of $42.07 and a 12 month high of $66.33. The business’s 50-day moving average price is $52.77 and its 200-day moving average price is $52.66.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Friday, November 7th. The company reported $4.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.09 by ($0.55). The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Brighthouse Financial had a return on equity of 20.59% and a net margin of 15.39%.The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.99 EPS. Sell-side analysts forecast that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on BHF shares. Evercore ISI reduced their price target on shares of Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Wells Fargo & Company boosted their target price on Brighthouse Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $70.00 target price on Brighthouse Financial in a research note on Thursday, November 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $53.00 price target on shares of Brighthouse Financial in a research report on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Brighthouse Financial currently has a consensus rating of “Reduce” and a consensus price target of $63.70.

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 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.