Highland Capital Management LLC Takes $285,000 Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Highland Capital Management LLC bought a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 4,908 shares of the company's stock, valued at approximately $285,000.

Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of Brighthouse Financial by 187.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company's stock valued at $87,585,000 after buying an additional 1,188,685 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Brighthouse Financial by 2,632.8% in the fourth quarter. Victory Capital Management Inc. now owns 884,162 shares of the company's stock valued at $42,475,000 after acquiring an additional 851,808 shares during the period. Norges Bank purchased a new stake in shares of Brighthouse Financial during the 4th quarter worth $37,131,000. AQR Capital Management LLC grew its stake in shares of Brighthouse Financial by 156.9% during the 4th quarter. AQR Capital Management LLC now owns 656,464 shares of the company's stock worth $31,537,000 after purchasing an additional 400,924 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Brighthouse Financial by 12.1% during the 4th quarter. American Century Companies Inc. now owns 1,682,076 shares of the company's stock worth $80,807,000 after purchasing an additional 181,980 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Brighthouse Financial from $41.00 to $45.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Piper Sandler reduced their price target on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a research report on Thursday. Raymond James Financial upgraded Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price target on the stock in a report on Tuesday, March 18th. UBS Group set a $72.00 price objective on Brighthouse Financial in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company decreased their target price on Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $60.30.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF traded down $1.27 on Thursday, hitting $52.51. The company had a trading volume of 750,620 shares, compared to its average volume of 616,023. 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, Inc. has a 52-week low of $40.00 and a 52-week high of $64.12. The business has a 50 day moving average of $57.78 and a 200 day moving average of $55.16. The company has a market cap of $3.01 billion, a PE ratio of 6.30 and a beta of 0.88.

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

Insider Activity

In other Brighthouse Financial 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 completion of the sale, the executive vice president directly owned 18,441 shares of the company's stock, valued at approximately $1,097,423.91. The trade was a 13.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

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.