Bank of New York Mellon Corp Raises Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Bank of New York Mellon Corp grew its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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’s holdings in Brighthouse Financial were worth $25,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in Brighthouse Financial by 2.2% in the third quarter. State Street Corp now owns 2,314,905 shares of the company’s stock worth $104,240,000 after buying an additional 50,441 shares during the period. Institute for Wealth Management LLC. bought a new position in shares of Brighthouse Financial in the 4th quarter worth approximately $287,000. SG Americas Securities LLC purchased a new position in shares of Brighthouse Financial in the 4th quarter valued at approximately $312,000. Range Financial Group LLC bought a new stake in shares of Brighthouse Financial during the fourth quarter valued at approximately $826,000. Finally, GSA Capital Partners LLP purchased a new stake in Brighthouse Financial in the third quarter worth $1,311,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Activity at Brighthouse Financial

In other news, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the transaction, the executive vice president now owns 66,262 shares of the company’s stock, valued at $4,041,982. This represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Brighthouse Financial Stock Performance

NASDAQ:BHF opened at $54.21 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a 50-day simple moving average of $54.97 and a two-hundred day simple moving average of $50.10. The firm has a market capitalization of $3.15 billion, a PE ratio of 10.51 and a beta of 1.11. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share (EPS) 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%. Analysts forecast that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BHF shares. Barclays raised Brighthouse Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $85.00 in a research report on Wednesday, January 29th. Piper Sandler lifted their target price on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company upgraded Brighthouse Financial from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $41.00 to $59.00 in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased 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 note on Tuesday, January 7th. Finally, Jefferies Financial Group cut Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.14.

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.