Lazard Asset Management LLC Decreases Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Lazard Asset Management LLC lowered its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 28.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,199 shares of the company's stock after selling 15,555 shares during the period. Lazard Asset Management LLC owned approximately 0.07% of Brighthouse Financial worth $1,881,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd grew its position in Brighthouse Financial by 327.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock valued at $44,000 after purchasing an additional 703 shares during the period. KBC Group NV increased its stake in shares of 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 purchasing an additional 663 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Brighthouse Financial in the fourth quarter worth $217,000. Guggenheim Capital LLC bought a new stake in Brighthouse Financial in the 4th quarter valued at about $227,000. Finally, Polymer Capital Management US LLC purchased a new stake in shares of Brighthouse Financial during the 4th quarter valued at approximately $233,000. 81.24% of the stock is currently owned by institutional investors.

Brighthouse Financial Stock Performance

Shares of BHF stock traded down $0.86 during trading hours on Friday, reaching $57.91. The company had a trading volume of 780,144 shares, compared to its average volume of 575,708. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.92 and a current ratio of 0.93. The business has a fifty day moving average price of $55.60 and a 200-day moving average price of $53.93. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $64.12. The firm has a market cap of $3.32 billion, a PE 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). Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the company posted $4.25 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays lifted their target price on Brighthouse Financial from $75.00 to $76.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Raymond James upgraded 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 research report on Tuesday, March 18th. Keefe, Bruyette & Woods upped 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. Piper Sandler increased their target price on shares of Brighthouse Financial from $52.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, UBS Group set a $72.00 price target on shares of Brighthouse Financial in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Brighthouse Financial has a consensus rating of "Hold" and an average target price of $60.80.

Brighthouse Financial Company 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.