Canada Pension Plan Investment Board Purchases 1,188,685 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Canada Pension Plan Investment Board increased its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 187.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,823,162 shares of the company's stock after acquiring an additional 1,188,685 shares during the period. Canada Pension Plan Investment Board owned about 3.07% of Brighthouse Financial worth $87,585,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew 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 acquiring an additional 181,980 shares during the last quarter. Geode Capital Management LLC raised its position in Brighthouse Financial by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company's stock worth $49,160,000 after purchasing an additional 8,004 shares during the period. Victory Capital Management Inc. lifted its stake in Brighthouse Financial by 2,632.8% in 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 during the last quarter. Norges Bank purchased a new stake in Brighthouse Financial during the fourth quarter valued at about $37,131,000. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 last quarter. Institutional investors own 81.24% of the company's stock.

Insiders Place Their Bets

In related news, EVP John Rosenthal sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $61.00, for a total value of $610,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Brighthouse Financial Stock Down 0.1 %

Shares of Brighthouse Financial stock traded down $0.07 on Wednesday, reaching $51.75. The company's stock had a trading volume of 507,858 shares, compared to its average volume of 818,397. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12. The firm's fifty day simple moving average is $55.44 and its two-hundred day simple moving average is $52.29. 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 has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.03 and a beta of 0.91.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its earnings results 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 return on equity of 26.94% and a net margin of 8.21%. Equities analysts anticipate that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James upgraded Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price target on the stock in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods lifted their target price on shares of Brighthouse Financial from $60.00 to $66.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Morgan Stanley dropped their price target on shares of Brighthouse Financial from $52.00 to $41.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an "underweight" rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Brighthouse Financial presently has a consensus rating of "Hold" and a consensus target price of $62.00.

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.