Victory Capital Management Inc. Raises Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Victory Capital Management Inc. grew its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 2,632.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 884,162 shares of the company's stock after acquiring an additional 851,808 shares during the quarter. Victory Capital Management Inc. owned 1.49% of Brighthouse Financial worth $42,475,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 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 in the last quarter. Ieq Capital LLC purchased a new position in shares of Brighthouse Financial in the fourth quarter worth $1,748,000. Two Sigma Advisers LP raised its holdings in shares of Brighthouse Financial by 12.6% in the third quarter. Two Sigma Advisers LP now owns 320,700 shares of the company's stock worth $14,441,000 after buying an additional 35,800 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Brighthouse Financial during the third quarter worth $1,404,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Brighthouse Financial during the third quarter valued at $1,311,000. Institutional investors and hedge funds own 81.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BHF shares. JPMorgan Chase & Co. lowered their price target on Brighthouse Financial from $59.00 to $56.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. Morgan Stanley set a $52.00 target price on Brighthouse Financial in a report on Friday, February 28th. Barclays upgraded shares of Brighthouse Financial from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $52.00 to $85.00 in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on shares of Brighthouse Financial from $60.00 to $66.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Finally, Piper Sandler upped their price objective on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Brighthouse Financial currently has an average rating of "Hold" and a consensus price target of $61.75.

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Brighthouse Financial Stock Performance

Shares of NASDAQ:BHF traded up $0.92 during trading on Wednesday, hitting $54.26. 638,709 shares of the stock traded hands, compared to its average volume of 798,057. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $55.12 and a two-hundred day moving average price of $50.20. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 10.52 and a beta of 1.11.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share 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%. As a group, equities analysts predict that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

Insider Activity

In other news, EVP John Rosenthal sold 10,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $61.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president now directly owns 66,262 shares in the company, valued at $4,041,982. The trade was a 13.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company's stock.

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.