Geode Capital Management LLC Reduces Stock Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Geode Capital Management LLC lowered its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,049,221 shares of the company's stock after selling 42,241 shares during the period. Geode Capital Management LLC owned about 1.77% of Brighthouse Financial worth $50,419,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. KBC Group NV boosted its stake in shares of Brighthouse Financial by 33.1% in the 4th quarter. KBC Group NV now owns 2,664 shares of the company's stock valued at $128,000 after purchasing an additional 663 shares in the last quarter. Lecap Asset Management Ltd. grew its stake in shares of Brighthouse Financial by 9.1% during the fourth quarter. Lecap Asset Management Ltd. now owns 5,234 shares of the company's stock valued at $251,000 after buying an additional 436 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Brighthouse Financial in the 4th quarter valued at about $258,000. Institute for Wealth Management LLC. purchased a new stake in Brighthouse Financial during the 4th quarter valued at about $287,000. Finally, SG Americas Securities LLC bought a new position in Brighthouse Financial during the 4th quarter worth approximately $312,000. 81.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of Brighthouse Financial stock in a transaction on 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 sale, the executive vice president now owns 66,262 shares of the company's stock, valued at approximately $4,041,982. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Brighthouse Financial from $52.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Raymond James upgraded shares of Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price objective on the stock in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods increased their target price on shares of Brighthouse Financial from $60.00 to $66.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. UBS Group set a $72.00 price target on Brighthouse Financial in a report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered their price target on Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.00.

Brighthouse Financial Stock Up 0.3 %

Shares of BHF stock traded up $0.16 during mid-day trading on Tuesday, reaching $50.66. 743,681 shares of the company's stock traded hands, compared to its average volume of 534,251. 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's 50-day moving average price is $56.30 and its 200-day moving average price is $52.09. The company has a market cap of $2.94 billion, a P/E ratio of 9.82 and a beta of 0.91. Brighthouse Financial, Inc. has a 12 month low of $40.00 and a 12 month high of $64.12.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, topping 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 expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal 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.