Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,044 shares of the company’s stock after selling 18,965 shares during the quarter. JPMorgan Chase & Co. owned about 0.28% of Brighthouse Financial worth $7,432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its holdings in Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after buying an additional 564 shares during the period. UMB Bank n.a. increased its position in shares of Brighthouse Financial by 974.1% in the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after acquiring an additional 565 shares in the last quarter. CWM LLC raised its holdings in shares of Brighthouse Financial by 29.4% during the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares during the period. GAMMA Investing LLC lifted its position in shares of Brighthouse Financial by 97.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock valued at $78,000 after acquiring an additional 855 shares in the last quarter. Finally, KBC Group NV boosted its stake in Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after purchasing an additional 464 shares during the period. 81.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the transaction, the executive vice president now owns 33,407 shares in the company, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays raised their price target on shares of Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Piper Sandler cut their price objective on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their target price on Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.38.

Brighthouse Financial Stock Up 2.9 %

Brighthouse Financial stock opened at $47.78 on Wednesday. The stock has a market capitalization of $2.84 billion, a PE ratio of -2.35 and a beta of 1.08. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $54.73. The company has a 50 day moving average of $49.65 and a 200-day moving average of $46.94. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same period last year, the business posted $4.18 EPS. On average, equities research analysts anticipate that Brighthouse Financial, Inc. will post 18.47 EPS for the current fiscal year.

Brighthouse Financial 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.