Bank of New York Mellon Corp Boosts Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Bank of New York Mellon Corp boosted its position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 525,388 shares of the company's stock after acquiring an additional 9,500 shares during the quarter. Bank of New York Mellon Corp owned 0.89% of Brighthouse Financial worth $25,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BHF. State Street Corp boosted its position in Brighthouse Financial by 2.2% during the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company's stock valued at $104,240,000 after buying an additional 50,441 shares during the period. Geode Capital Management LLC lifted its position in Brighthouse Financial by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company's stock valued at $49,160,000 after buying an additional 8,004 shares during the period. Two Sigma Advisers LP increased its stake in shares of Brighthouse Financial by 12.6% during the third quarter. Two Sigma Advisers LP now owns 320,700 shares of the company's stock valued at $14,441,000 after purchasing an additional 35,800 shares in the last quarter. Algert Global LLC increased its position in Brighthouse Financial by 9.3% during the 3rd quarter. Algert Global LLC now owns 222,504 shares of the company's stock valued at $10,019,000 after buying an additional 19,022 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in shares of Brighthouse Financial by 55.1% in the 3rd quarter. Bridgewater Associates LP now owns 70,167 shares of the company's stock worth $3,160,000 after purchasing an additional 24,914 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Brighthouse Financial from $60.00 to $66.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Barclays upgraded shares of Brighthouse Financial from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $52.00 to $85.00 in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Brighthouse Financial from $59.00 to $56.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. Jefferies Financial Group cut Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 price objective for the company. in a research report on Monday, February 3rd. Finally, Piper Sandler raised their target price on Brighthouse Financial from $52.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $61.75.

Insider Buying and Selling

In related 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 completion of the transaction, the executive vice president now owns 66,262 shares in the company, valued at approximately $4,041,982. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Brighthouse Financial Price Performance

BHF traded down $0.99 during trading on Thursday, reaching $53.26. 449,476 shares of the company traded hands, compared to its average volume of 794,127. The company has a market cap of $3.09 billion, a P/E ratio of 10.32 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.92 and a current ratio of 0.93. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.12. The firm has a fifty day simple moving average of $55.25 and a 200 day simple moving average of $50.22.

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 (EPS) for the quarter, beating 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, equities analysts forecast that Brighthouse Financial, Inc. will post 20.32 EPS 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.