Bank of New York Mellon Corp Purchases 9,500 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Bank of New York Mellon Corp grew its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 525,388 shares of the company’s stock after purchasing an additional 9,500 shares during the period. Bank of New York Mellon Corp owned approximately 0.89% of Brighthouse Financial worth $25,240,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Brighthouse Financial by 2.2% during the third quarter. State Street Corp now owns 2,314,905 shares of the company’s stock valued at $104,240,000 after buying an additional 50,441 shares during the period. Institute for Wealth Management LLC. purchased a new position in shares of Brighthouse Financial during the fourth quarter worth about $287,000. SG Americas Securities LLC purchased a new position in shares of Brighthouse Financial during the fourth quarter worth about $312,000. Range Financial Group LLC bought a new position in shares of Brighthouse Financial in the fourth quarter worth approximately $826,000. Finally, GSA Capital Partners LLP purchased a new stake in Brighthouse Financial in the third quarter valued at approximately $1,311,000. Institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the transaction, the executive vice president now owns 66,262 shares in the company, valued at approximately $4,041,982. The trade was a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BHF shares. Jefferies Financial Group cut shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research note on Monday, February 3rd. 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. Wells Fargo & Company upgraded Brighthouse Financial from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $41.00 to $59.00 in a research report on Wednesday, February 19th. Barclays raised Brighthouse Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $85.00 in a research note on Wednesday, January 29th. Finally, Piper Sandler increased their price objective on Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.14.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $54.21 on Monday. The company has a 50-day simple moving average of $54.97 and a two-hundred day simple moving average of $50.10. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.12. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 10.51 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. On average, equities analysts forecast that Brighthouse Financial, Inc. will post 20.32 EPS for the current 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.