Wealth Enhancement Advisory Services LLC Trims Stake in Brighthouse Financial, Inc. (NASDAQ:BHF)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 14.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,043 shares of the company's stock after selling 5,355 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Brighthouse Financial worth $1,858,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BHF. Canada Pension Plan Investment Board boosted its holdings in shares of Brighthouse Financial by 187.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company's stock valued at $87,585,000 after purchasing an additional 1,188,685 shares during the last quarter. American Century Companies Inc. grew its holdings in Brighthouse Financial by 12.1% during the 4th quarter. American Century Companies Inc. now owns 1,682,076 shares of the company's stock valued at $80,807,000 after buying an additional 181,980 shares in the last quarter. Victory Capital Management Inc. increased its stake in Brighthouse Financial by 2,632.8% in the 4th quarter. Victory Capital Management Inc. now owns 884,162 shares of the company's stock worth $42,475,000 after acquiring an additional 851,808 shares during the last quarter. Norges Bank bought a new stake in Brighthouse Financial in the 4th quarter worth approximately $37,131,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Brighthouse Financial by 3.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 732,689 shares of the company's stock worth $35,198,000 after acquiring an additional 24,662 shares in the last quarter. Institutional investors own 81.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BHF shares. Piper Sandler reduced 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. Keefe, Bruyette & Woods upped their target price on shares of Brighthouse Financial from $56.00 to $59.00 and gave the company a "market perform" rating in a research report on Tuesday, May 13th. Wall Street Zen lowered Brighthouse Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Morgan Stanley boosted their price objective on Brighthouse Financial from $41.00 to $45.00 and gave the stock an "underweight" rating in a research note on Monday, May 19th. Finally, Barclays lifted their target price on Brighthouse Financial from $75.00 to $76.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.30.

Insider Activity at Brighthouse Financial

In other news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total value of $178,530.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company's stock.

Brighthouse Financial Trading Down 2.4%

Shares of NASDAQ BHF traded down $1.27 during trading hours on Thursday, reaching $52.51. The stock had a trading volume of 750,620 shares, compared to its average volume of 849,511. The business's fifty day moving average price is $57.78 and its two-hundred day moving average price is $55.16. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 6.30 and a beta of 0.88. Brighthouse Financial, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly 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). Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm posted $4.25 earnings per share. The company's revenue was up 6.1% on a year-over-year basis. Analysts expect that Brighthouse Financial, Inc. will post 20.32 EPS 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.