Brighthouse Financial, Inc. $BHF Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,605 shares of the company’s stock after selling 31,079 shares during the quarter. Bank of New York Mellon Corp owned 0.83% of Brighthouse Financial worth $25,735,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BHF. IFP Advisors Inc increased its holdings in shares of Brighthouse Financial by 1,900.0% in the second quarter. IFP Advisors Inc now owns 740 shares of the company’s stock valued at $40,000 after buying an additional 703 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Brighthouse Financial by 42.0% in the 1st quarter. Brooklyn Investment Group now owns 764 shares of the company’s stock worth $44,000 after acquiring an additional 226 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after purchasing an additional 735 shares during the period. Ameriflex Group Inc. lifted its holdings in shares of Brighthouse Financial by 12,371.4% during the second quarter. Ameriflex Group Inc. now owns 873 shares of the company’s stock valued at $47,000 after purchasing an additional 866 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Brighthouse Financial by 7,756.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,257 shares of the company’s stock valued at $68,000 after purchasing an additional 1,241 shares during the period. 81.24% of the stock is currently owned by institutional investors.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $65.78 on Friday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 4.49 and a beta of 0.94. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $66.33. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $51.99 and a 200 day simple moving average of $52.62.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Friday, November 7th. The company reported $4.54 earnings per share for the quarter, missing the consensus estimate of $5.09 by ($0.55). The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.26 billion. Brighthouse Financial had a return on equity of 20.59% and a net margin of 15.39%.The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.99 earnings per share. As a group, sell-side analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on BHF shares. Raymond James Financial restated a “market perform” rating on shares of Brighthouse Financial in a report on Wednesday. Morgan Stanley set a $70.00 price target on shares of Brighthouse Financial in a research report on Thursday, November 6th. Piper Sandler reissued a “neutral” rating and set a $53.00 target price on shares of Brighthouse Financial in a research note on Tuesday, October 7th. Barclays decreased their target price on Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Keefe, Bruyette & Woods upped their price target on Brighthouse Financial from $50.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $63.70.

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.