Comerica Bank Sells 603 Shares of Brighthouse Financial, Inc. $BHF

Comerica Bank reduced its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 3.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 16,750 shares of the company’s stock after selling 603 shares during the period. Comerica Bank’s holdings in Brighthouse Financial were worth $971,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Brighthouse Financial by 7.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,895 shares of the company’s stock valued at $9,411,000 after purchasing an additional 14,316 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Brighthouse Financial by 11.0% during the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company’s stock valued at $118,000 after purchasing an additional 202 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Brighthouse Financial during the first quarter valued at approximately $780,000. Four Tree Island Advisory LLC bought a new position in shares of Brighthouse Financial during the first quarter valued at approximately $699,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Brighthouse Financial by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 74,877 shares of the company’s stock valued at $3,597,000 after purchasing an additional 491 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

BHF opened at $43.36 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $2.48 billion, a P/E ratio of 4.69 and a beta of 0.87. The company’s 50-day simple moving average is $48.28 and its two-hundred day simple moving average is $53.65. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($1.27). Brighthouse Financial had a return on equity of 21.06% and a net margin of 10.24%.The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the firm posted $5.57 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts predict that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of Brighthouse Financial from $63.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. Barclays decreased their target price on shares of Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Morgan Stanley reduced their price target on shares of Brighthouse Financial from $45.00 to $42.00 and set an “underweight” rating for the company in a research report on Monday, July 14th. Wells Fargo & Company raised their price target on shares of Brighthouse Financial from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an “underweight” rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and an average target price of $59.67.

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.