Invesco Ltd. Reduces Holdings in Brighthouse Financial, Inc. $BHF

Key Points

• Invesco Ltd. reduced its stake in Brighthouse Financial by 6.3%, selling 18,081 shares, now holding approximately 0.47% of the company valued at $15.58 million.
• Multiple institutional investors have increased their positions in Brighthouse Financial, indicating strong interest in the stock, which is 81.24% owned by institutions and hedge funds.
• Analysts have set varied price targets for Brighthouse Financial, with the consensus price currently at $59.67, while the stock has an average rating of "Hold."

Invesco Ltd. cut its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,645 shares of the company's stock after selling 18,081 shares during the quarter. Invesco Ltd. owned about 0.47% of Brighthouse Financial worth $15,579,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Brighthouse Financial by 188.0% in the 1st quarter. Versant Capital Management Inc now owns 622 shares of the company's stock worth $36,000 after purchasing an additional 406 shares in the last quarter. UMB Bank n.a. raised its holdings in Brighthouse Financial by 101.7% in the 1st quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock worth $70,000 after purchasing an additional 605 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in Brighthouse Financial in the 4th quarter worth $94,000. GAMMA Investing LLC raised its holdings in Brighthouse Financial by 11.0% in the 1st quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock worth $118,000 after purchasing an additional 202 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Brighthouse Financial by 15.0% in the 1st quarter. Signaturefd LLC now owns 3,138 shares of the company's stock worth $182,000 after purchasing an additional 410 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.

Brighthouse Financial Stock Down 0.6%

NASDAQ:BHF traded down $0.30 on Monday, reaching $46.79. 619,618 shares of the stock traded hands, compared to its average volume of 683,593. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 5.06 and a beta of 0.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. Brighthouse Financial, Inc. has a 12 month low of $40.00 and a 12 month high of $64.12. The company's fifty day simple moving average is $50.18 and its 200 day simple moving average is $54.46.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.70 by ($1.27). Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the previous year, the business earned $5.57 EPS. The business's revenue was down 2.8% compared to the same quarter last year. Equities analysts predict that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Insider Buying and Selling at Brighthouse Financial

In other news, EVP Vonda Huss sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total transaction of $178,530.00. Following the completion of the transaction, the executive vice president directly owned 18,441 shares of the company's stock, valued at $1,097,423.91. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on BHF. JPMorgan Chase & Co. upped their price objective on shares of Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Morgan Stanley decreased their price target on shares of Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating for the company in a research note on Monday, July 14th. Wall Street Zen lowered shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler decreased 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 note on Thursday, July 3rd. Finally, Barclays decreased their price target on shares of Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Brighthouse Financial presently has an average rating of "Hold" and an average target price of $59.67.

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.