Brandywine Global Investment Management LLC Has $9.08 Million Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Brighthouse Financial by 3.7%, now holding approximately 156,631 shares worth about $9.08 million.
• Brighthouse Financial's quarterly earnings reported an EPS of $3.43, missing estimates by $1.27, with a year-over-year revenue decline of 2.8%.
• A majority of analysts currently rate Brighthouse Financial as a "Hold," with an average target price of $59.67 following mixed reviews on its stock performance.

Brandywine Global Investment Management LLC lowered its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 3.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 156,631 shares of the company's stock after selling 6,010 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.27% of Brighthouse Financial worth $9,083,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BHF. Franklin Resources Inc. bought a new stake in Brighthouse Financial during the fourth quarter worth $258,000. Cerity Partners LLC increased its holdings in Brighthouse Financial by 18.4% in the fourth quarter. Cerity Partners LLC now owns 18,580 shares of the company's stock valued at $873,000 after purchasing an additional 2,890 shares during the period. Bank of Montreal Can increased its holdings in Brighthouse Financial by 16.4% in the fourth quarter. Bank of Montreal Can now owns 9,047 shares of the company's stock valued at $435,000 after purchasing an additional 1,278 shares during the period. Invesco Ltd. increased its holdings in Brighthouse Financial by 49.4% in the fourth quarter. Invesco Ltd. now owns 286,726 shares of the company's stock valued at $13,774,000 after purchasing an additional 94,801 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Brighthouse Financial during the 4th quarter worth about $384,000. Institutional investors own 81.24% of the company's stock.

Insider Activity

In other news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total transaction of $178,530.00. Following the completion of the sale, the executive vice president directly owned 18,441 shares of the company's stock, valued at approximately $1,097,423.91. The trade was a 13.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company's stock.

Brighthouse Financial Stock Down 2.1%

Brighthouse Financial stock opened at $45.68 on Friday. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $64.12. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 4.94 and a beta of 0.88. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $51.55 and a 200 day simple moving average of $55.07.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing analysts' consensus estimates of $4.70 by ($1.27). The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.21 billion. Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.57 earnings per share. On average, analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BHF shares. Wells Fargo & Company increased their price target on Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Piper Sandler dropped their price target on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. JPMorgan Chase & Co. raised their price target on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Morgan Stanley dropped their target price on shares of Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating on the stock in a research report on Monday, July 14th. Finally, Wall Street Zen cut shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $59.67.

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.

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