Norges Bank Acquires Shares of 772,925 Brighthouse Financial, Inc. (NASDAQ:BHF)

Norges Bank purchased a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 772,925 shares of the company's stock, valued at approximately $37,131,000. Norges Bank owned approximately 1.30% of Brighthouse Financial as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Brighthouse Financial by 2.2% in the third quarter. State Street Corp now owns 2,314,905 shares of the company's stock valued at $104,240,000 after acquiring an additional 50,441 shares in the last quarter. American Century Companies Inc. lifted its position in Brighthouse Financial by 12.1% during the fourth quarter. American Century Companies Inc. now owns 1,682,076 shares of the company's stock valued at $80,807,000 after buying an additional 181,980 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. Victory Capital Management Inc. lifted its position in Brighthouse Financial by 2,632.8% during the fourth quarter. Victory Capital Management Inc. now owns 884,162 shares of the company's stock valued at $42,475,000 after buying an additional 851,808 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Brighthouse Financial by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 525,388 shares of the company's stock valued at $25,240,000 after buying an additional 9,500 shares during the period. Institutional investors own 81.24% of the company's stock.

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Insider Transactions at Brighthouse Financial

In related news, EVP John Rosenthal sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 66,262 shares in the company, valued at approximately $4,041,982. This represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on BHF shares. Morgan Stanley set a $52.00 price objective on Brighthouse Financial in a research report on Friday, February 28th. 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 report on Monday, February 3rd. Wells Fargo & Company raised Brighthouse Financial from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $41.00 to $59.00 in a research report on Wednesday, February 19th. Piper Sandler lifted their price target on Brighthouse Financial from $52.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lifted their price target on Brighthouse Financial from $60.00 to $66.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.80.

Brighthouse Financial Stock Performance

Shares of NASDAQ:BHF traded down $4.28 during mid-day trading on Thursday, reaching $49.60. 162,087 shares of the company traded hands, compared to its average volume of 820,055. The company's 50 day moving average price is $57.15 and its 200-day moving average price is $51.95. The firm has a market cap of $2.88 billion, a PE ratio of 9.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.92. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $5.88 EPS for the quarter, topping analysts' consensus estimates of $4.56 by $1.32. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. On average, equities analysts expect that Brighthouse Financial, Inc. will post 20.32 EPS 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.