Prudential Financial Inc. Sells 17,495 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Prudential Financial Inc. reduced its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 77.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,239 shares of the company's stock after selling 17,495 shares during the period. Prudential Financial Inc.'s holdings in Brighthouse Financial were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Brighthouse Financial by 2,632.8% during the fourth quarter. Victory Capital Management Inc. now owns 884,162 shares of the company's stock worth $42,475,000 after purchasing an additional 851,808 shares in the last quarter. American Century Companies Inc. grew its holdings 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 worth $80,807,000 after acquiring an additional 181,980 shares during the period. State Street Corp lifted its stake in shares of Brighthouse Financial by 2.2% in the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company's stock valued at $104,240,000 after purchasing an additional 50,441 shares during the period. Ieq Capital LLC acquired a new stake in Brighthouse Financial in the fourth quarter valued at approximately $1,748,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Brighthouse Financial during the fourth quarter worth about $1,477,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

BHF has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. UBS Group set a $72.00 target price on shares of Brighthouse Financial in a research report on Tuesday, March 18th. Jefferies Financial Group lowered Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 price objective on the stock. in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on 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 raised their price objective on Brighthouse Financial from $52.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Brighthouse Financial has a consensus rating of "Hold" and an average price target of $62.00.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the 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 owns 66,262 shares in the company, valued at $4,041,982. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.40% of the company's stock.

Brighthouse Financial Price Performance

Brighthouse Financial stock traded down $0.63 during trading hours on Wednesday, hitting $50.03. 55,067 shares of the company traded hands, compared to its average volume of 532,390. The firm's 50-day simple moving average is $56.30 and its two-hundred day simple moving average is $52.09. 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 firm has a market cap of $2.90 billion, a P/E ratio of 9.70 and a beta of 0.91. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $64.12.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $5.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $1.32. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. As a group, analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Brighthouse Financial Profile

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.