Raymond James Financial Inc. Takes Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Raymond James Financial Inc. acquired a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,998 shares of the company's stock, valued at approximately $384,000.

Several other large investors also recently modified their holdings of the stock. KBC Group NV raised its holdings in shares of Brighthouse Financial by 33.1% in the fourth quarter. KBC Group NV now owns 2,664 shares of the company's stock valued at $128,000 after buying an additional 663 shares during the last quarter. Lecap Asset Management Ltd. raised its stake in shares of Brighthouse Financial by 9.1% in the fourth quarter. Lecap Asset Management Ltd. now owns 5,234 shares of the company's stock worth $251,000 after acquiring an additional 436 shares during the last quarter. Institute for Wealth Management LLC. bought a new position in shares of Brighthouse Financial in the fourth quarter worth about $287,000. SG Americas Securities LLC acquired a new position in shares of Brighthouse Financial during the fourth quarter worth approximately $312,000. Finally, Centiva Capital LP bought a new stake in shares of Brighthouse Financial during the third quarter valued at approximately $385,000. 81.24% of the stock is currently owned by institutional investors.

Brighthouse Financial Trading Up 1.1 %

Shares of NASDAQ:BHF traded up $0.53 during mid-day trading on Friday, reaching $47.82. The stock had a trading volume of 980,313 shares, compared to its average volume of 531,190. The firm has a market cap of $2.78 billion, a PE ratio of 9.27 and a beta of 0.91. The firm has a 50 day simple moving average of $56.66 and a two-hundred day simple moving average of $52.06. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12.

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Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, topping analysts' consensus estimates of $4.56 by $1.32. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. On average, research analysts predict that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BHF has been the topic of several research reports. Morgan Stanley reduced their price objective on Brighthouse Financial from $52.00 to $41.00 and set an "underweight" rating on the stock in a report on Thursday. Keefe, Bruyette & Woods raised their price target on Brighthouse Financial from $60.00 to $66.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. UBS Group set a $72.00 price objective on Brighthouse Financial in a research report on Tuesday, March 18th. Piper Sandler upped their target price on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $62.00.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of Brighthouse Financial 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 sale, the executive vice president now owns 66,262 shares of the company's stock, valued at $4,041,982. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company's stock.

Brighthouse Financial 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.