Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,166 shares of the company's stock after selling 4,688 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Brighthouse Financial worth $3,227,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BHF. LPL Financial LLC increased its holdings in shares of Brighthouse Financial by 55.3% during the 4th quarter. LPL Financial LLC now owns 39,545 shares of the company's stock valued at $1,900,000 after purchasing an additional 14,084 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Brighthouse Financial during the fourth quarter valued at $620,000. Sei Investments Co. increased its holdings in Brighthouse Financial by 0.6% in the fourth quarter. Sei Investments Co. now owns 126,542 shares of the company's stock valued at $6,079,000 after buying an additional 787 shares in the last quarter. American Century Companies Inc. raised its position in shares of Brighthouse Financial by 12.1% in 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. Finally, Quantbot Technologies LP raised its position in shares of Brighthouse Financial by 1.9% in the fourth quarter. Quantbot Technologies LP now owns 54,155 shares of the company's stock worth $2,602,000 after acquiring an additional 1,006 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

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Brighthouse Financial Trading Down 10.8 %

Shares of BHF stock traded down $5.93 on Friday, hitting $49.06. 1,742,764 shares of the stock traded hands, compared to its average volume of 510,269. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12. The stock has a market capitalization of $2.85 billion, a PE ratio of 9.51 and a beta of 0.91. The firm's 50-day moving average price is $58.04 and its two-hundred day moving average price is $51.79. 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 (NASDAQ:BHF - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, beating the consensus estimate 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, analysts anticipate that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BHF. Jefferies Financial Group lowered Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 price target for the company. in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Brighthouse Financial from $59.00 to $56.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. Raymond James upgraded shares of Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price objective for the company in a research report on Tuesday, March 18th. Piper Sandler lifted 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, Morgan Stanley set a $52.00 target price on Brighthouse Financial in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, five have given 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 currently has a consensus rating of "Hold" and an average target price of $63.80.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 10,000 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the executive vice president now directly owns 66,262 shares in the company, valued at approximately $4,041,982. The trade was a 13.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

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.