Alliancebernstein L.P. Acquires 33,716 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Alliancebernstein L.P. raised its position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 41.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,984 shares of the company's stock after purchasing an additional 33,716 shares during the period. Alliancebernstein L.P. owned approximately 0.19% of Brighthouse Financial worth $5,524,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of BHF. Victory Capital Management Inc. increased its stake in 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 purchasing an additional 851,808 shares in the last quarter. Norges Bank acquired a new position in shares of Brighthouse Financial in the fourth quarter valued at approximately $37,131,000. American Century Companies Inc. raised its holdings in shares of 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 acquiring an additional 181,980 shares during the period. Caisse Des Depots ET Consignations acquired a new stake in shares of Brighthouse Financial during the fourth quarter worth $4,321,000. Finally, State Street Corp boosted its stake in Brighthouse Financial by 2.2% in the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company's stock worth $104,240,000 after purchasing an additional 50,441 shares during the period. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BHF shares. UBS Group set a $72.00 price target on Brighthouse Financial in a report on Tuesday, March 18th. Barclays raised shares of Brighthouse Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $52.00 to $85.00 in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley cut their price target on shares of Brighthouse Financial from $52.00 to $41.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Finally, Raymond James upgraded Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 target price on the stock in a research note on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $62.00.

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Insider Activity at Brighthouse Financial

In other Brighthouse Financial 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by insiders.

Brighthouse Financial Price Performance

NASDAQ BHF traded up $0.16 on Tuesday, hitting $50.66. 743,681 shares of the company's stock were exchanged, compared to its average volume of 534,251. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12. The stock has a 50-day moving average of $56.30 and a 200-day moving average of $52.09. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 9.82 and a beta of 0.91.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results 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 expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

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.