Rhumbline Advisers Sells 3,846 Shares of Brighthouse Financial, Inc. $BHF

Rhumbline Advisers lowered its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 2.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 157,121 shares of the company’s stock after selling 3,846 shares during the quarter. Rhumbline Advisers’ holdings in Brighthouse Financial were worth $8,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BHF. American Century Companies Inc. increased its holdings in shares of Brighthouse Financial by 9.3% in the 1st quarter. American Century Companies Inc. now owns 1,838,020 shares of the company’s stock worth $106,587,000 after purchasing an additional 155,944 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Brighthouse Financial by 41.0% during the first quarter. Royal Bank of Canada now owns 985,215 shares of the company’s stock valued at $57,134,000 after buying an additional 286,607 shares during the last quarter. Northern Trust Corp increased its holdings in Brighthouse Financial by 6.1% in the 1st quarter. Northern Trust Corp now owns 720,243 shares of the company’s stock worth $41,767,000 after buying an additional 41,323 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Brighthouse Financial by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 386,664 shares of the company’s stock worth $22,423,000 after buying an additional 23,990 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Brighthouse Financial by 156.2% during the 1st quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock valued at $15,245,000 after acquiring an additional 160,272 shares during the period. 81.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BHF shares. Barclays reduced their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Brighthouse Financial in a research note on Monday, November 24th. Piper Sandler reissued a “neutral” rating and set a $53.00 price target on shares of Brighthouse Financial in a report on Tuesday, October 7th. Zacks Research lowered Brighthouse Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Brighthouse Financial in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Brighthouse Financial has a consensus rating of “Reduce” and a consensus target price of $63.70.

Brighthouse Financial Trading Up 0.0%

NASDAQ:BHF opened at $65.58 on Tuesday. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.33. The business has a fifty day moving average price of $55.67 and a 200-day moving average price of $53.09. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 4.47 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.95.

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

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.