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

Bank of New York Mellon Corp decreased its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,343 shares of the company’s stock after selling 6,960 shares during the quarter. Bank of New York Mellon Corp owned 0.92% of Brighthouse Financial worth $24,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BHF. Quadrant Capital Group LLC grew its holdings in shares of Brighthouse Financial by 36.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $60,000 after buying an additional 303 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Brighthouse Financial during the first quarter valued at $110,000. Central Pacific Bank Trust Division purchased a new position in shares of Brighthouse Financial during the first quarter valued at $169,000. EMC Capital Management grew its holdings in shares of Brighthouse Financial by 216.0% during the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after buying an additional 2,581 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in Brighthouse Financial in the fourth quarter valued at about $206,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following the transaction, the chief financial officer now directly owns 37,640 shares in the company, valued at $1,571,093.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares in the company, valued at $4,428,052. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,125 shares of company stock valued at $1,895,248. Insiders own 1.40% of the company’s stock.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $45.49 on Thursday. Brighthouse Financial, Inc. has a fifty-two week low of $40.24 and a fifty-two week high of $56.24. The business has a 50-day moving average of $45.47 and a two-hundred day moving average of $46.22. The stock has a market capitalization of $2.83 billion, a P/E ratio of -2.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.85 and a quick ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the firm earned $4.13 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 18.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on BHF. Jefferies Financial Group boosted their target price on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their target price on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Evercore ISI lowered their target price on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler lowered their target price on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.44.

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.