Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Comerica Bank

Comerica Bank reduced its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,353 shares of the company’s stock after selling 1,656 shares during the period. Comerica Bank’s holdings in Brighthouse Financial were worth $834,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in Brighthouse Financial by 187.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company’s stock worth $87,585,000 after acquiring an additional 1,188,685 shares in the last quarter. American Century Companies Inc. lifted its stake in Brighthouse Financial by 12.1% during the fourth quarter. American Century Companies Inc. now owns 1,682,076 shares of the company’s stock worth $80,807,000 after purchasing an additional 181,980 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Brighthouse Financial by 2,632.8% during the 4th quarter. Victory Capital Management Inc. now owns 884,162 shares of the company’s stock worth $42,475,000 after buying an additional 851,808 shares during the last quarter. Norges Bank acquired a new position in Brighthouse Financial in the fourth quarter valued at $37,131,000. Finally, Northern Trust Corp boosted its position in shares of Brighthouse Financial by 4.1% in the 4th quarter. Northern Trust Corp now owns 678,920 shares of the company’s stock valued at $32,615,000 after purchasing an additional 26,813 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Brighthouse Financial from $59.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Raymond James raised Brighthouse Financial from a “market perform” rating to a “strong-buy” rating and set a $72.00 target price on the stock in a report on Tuesday, March 18th. Barclays raised their price objective on shares of Brighthouse Financial from $75.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. UBS Group set a $72.00 price objective on Brighthouse Financial in a research report on Tuesday, March 18th. Finally, Piper Sandler boosted their price target on Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.40.

Brighthouse Financial Stock Up 0.6%

BHF opened at $59.78 on Wednesday. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $64.12. The firm has a 50 day moving average price of $54.76 and a 200 day moving average price of $53.32. 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 company has a market cap of $3.45 billion, a PE ratio of 11.59 and a beta of 0.96.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.55). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.29 billion. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $4.25 earnings per share. Sell-side analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

About Brighthouse Financial

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.