JPMorgan Chase & Co. Has $7.43 Million Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

JPMorgan Chase & Co. cut its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,044 shares of the company's stock after selling 18,965 shares during the period. JPMorgan Chase & Co. owned about 0.28% of Brighthouse Financial worth $7,432,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BHF. Geode Capital Management LLC increased its stake in shares of Brighthouse Financial by 0.7% in 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. XTX Topco Ltd grew its holdings in Brighthouse Financial by 20.3% during the 3rd quarter. XTX Topco Ltd now owns 27,974 shares of the company's stock worth $1,260,000 after acquiring an additional 4,726 shares during the last quarter. Weiss Asset Management LP acquired a new position in Brighthouse Financial in the 3rd quarter valued at approximately $782,000. Two Sigma Advisers LP raised 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 acquiring an additional 35,800 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Brighthouse Financial by 2.2% during the third 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.

Brighthouse Financial Stock Up 2.9 %

Shares of Brighthouse Financial stock opened at $47.78 on Wednesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -2.35 and a beta of 1.08. The stock's 50-day moving average is $49.65 and its 200 day moving average is $46.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $54.73.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same quarter in the previous year, the company posted $4.18 earnings per share. Equities research analysts anticipate that Brighthouse Financial, Inc. will post 18.47 EPS for the current year.

Insider Buying and Selling

In related news, EVP Myles Lambert sold 8,400 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the transaction, the executive vice president now directly owns 33,407 shares of the company's stock, valued at approximately $1,727,141.90. This represents a 20.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Brighthouse Financial from $42.00 to $41.00 and set an "underweight" rating for the company in a report on Tuesday. Barclays upped their price target on Brighthouse Financial from $48.00 to $52.00 and gave the company an "equal weight" rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Piper Sandler reduced their target price on Brighthouse Financial from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $51.38.

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.