Cresset Asset Management LLC Sells 15,150 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Cresset Asset Management LLC lessened its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 78.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,273 shares of the company's stock after selling 15,150 shares during the period. Cresset Asset Management LLC's holdings in Brighthouse Financial were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd raised its stake in Brighthouse Financial by 327.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock worth $44,000 after acquiring an additional 703 shares during the period. KBC Group NV raised its stake in Brighthouse Financial by 33.1% during the 4th quarter. KBC Group NV now owns 2,664 shares of the company's stock worth $128,000 after acquiring an additional 663 shares during the period. Dark Forest Capital Management LP bought a new stake in Brighthouse Financial during the 4th quarter worth approximately $217,000. Guggenheim Capital LLC bought a new stake in Brighthouse Financial during the 4th quarter worth approximately $227,000. Finally, Polymer Capital Management US LLC bought a new stake in Brighthouse Financial during the 4th quarter worth approximately $233,000. Institutional investors own 81.24% of the company's stock.

Analyst Ratings Changes

BHF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Brighthouse Financial from $56.00 to $59.00 and gave the company a "market perform" rating in a report on Tuesday, May 13th. Raymond James raised shares of Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price objective for the company in a report on Tuesday, March 18th. UBS Group set a $72.00 price objective on shares of Brighthouse Financial in a report on Tuesday, March 18th. Morgan Stanley increased their price objective on shares of Brighthouse Financial from $41.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company cut 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 research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $60.80.

Brighthouse Financial Price Performance

Shares of BHF stock traded down $0.86 on Friday, reaching $57.91. The company's stock had a trading volume of 780,144 shares, compared to its average volume of 576,697. The stock's fifty day simple moving average is $55.60 and its 200-day simple moving average is $53.94. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $64.12. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.22 and a beta of 0.96.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $4.17 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.55). The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.29 billion. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $4.25 earnings per share. Analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

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.