Brandywine Global Investment Management LLC Trims Stake in Brighthouse Financial, Inc. $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 reduced its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. acquired a new position in shares of Brighthouse Financial in the fourth quarter valued at approximately $258,000. Cerity Partners LLC raised its stake 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 in the last quarter. Bank of Montreal Can raised its holdings in shares of Brighthouse Financial by 16.4% during the 4th quarter. Bank of Montreal Can now owns 9,047 shares of the company's stock worth $435,000 after buying an additional 1,278 shares in the last quarter. Invesco Ltd. boosted its stake 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 buying an additional 94,801 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Brighthouse Financial in the fourth quarter valued at about $384,000. 81.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

BHF has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating for the company in a research report on Monday, July 14th. Wall Street Zen lowered Brighthouse Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. JPMorgan Chase & Co. upped their target price on Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Piper Sandler cut their target price 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. Finally, Barclays cut their target price on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.67.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the business's 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 sale, the executive vice president owned 18,441 shares of the company's stock, valued at $1,097,423.91. The trade was a 13.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company's stock.

Brighthouse Financial Stock Up 2.4%

Brighthouse Financial stock traded up $1.1150 during trading on Friday, hitting $47.5350. 144,402 shares of the company were exchanged, compared to its average volume of 842,444. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12. The business's 50 day moving average is $50.62 and its 200 day moving average is $54.70. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.72 billion, a P/E ratio of 5.15 and a beta of 0.88.

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