Bank of New York Mellon Corp Lowers Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Bank of New York Mellon Corp lowered its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 509,684 shares of the company's stock after selling 15,704 shares during the period. Bank of New York Mellon Corp owned about 0.88% of Brighthouse Financial worth $29,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in Brighthouse Financial in the 1st quarter valued at approximately $780,000. Highland Capital Management LLC acquired a new stake in Brighthouse Financial in the 1st quarter valued at $285,000. SG Americas Securities LLC increased its holdings in Brighthouse Financial by 1,764.2% in the 1st quarter. SG Americas Securities LLC now owns 121,229 shares of the company's stock valued at $7,030,000 after purchasing an additional 114,726 shares in the last quarter. GAMMA Investing LLC boosted its position in Brighthouse Financial by 11.0% in the 1st quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock valued at $118,000 after buying an additional 202 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Brighthouse Financial by 24.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 21,705 shares of the company's stock valued at $1,259,000 after buying an additional 4,295 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on Brighthouse Financial from $76.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Wall Street Zen lowered shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. JPMorgan Chase & Co. lifted their price objective on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Brighthouse Financial from $56.00 to $59.00 and gave the stock a "market perform" rating in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $60.30.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock traded down $0.25 on Friday, reaching $50.84. The stock had a trading volume of 736,807 shares, compared to its average volume of 638,434. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $64.12. The company has a market cap of $2.92 billion, a P/E ratio of 6.10 and a beta of 0.88. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The business's 50 day moving average is $56.27 and its two-hundred day moving average is $55.38.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.55). The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.29 billion. Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.25 earnings per share. As a group, research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

Insider Activity at Brighthouse Financial

In other news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $59.51, for a total value of $178,530.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company's stock.

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.