Massachusetts Financial Services Co. MA Purchases 16,711 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Massachusetts Financial Services Co. MA raised its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 34.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 64,801 shares of the company's stock after purchasing an additional 16,711 shares during the period. Massachusetts Financial Services Co. MA owned 0.11% of Brighthouse Financial worth $3,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Xponance Inc. raised its stake in Brighthouse Financial by 2.7% during the fourth quarter. Xponance Inc. now owns 6,860 shares of the company's stock worth $330,000 after acquiring an additional 181 shares during the period. Pinnacle Holdings LLC raised its stake in Brighthouse Financial by 0.4% during the fourth quarter. Pinnacle Holdings LLC now owns 46,297 shares of the company's stock worth $2,224,000 after acquiring an additional 191 shares during the period. GAMMA Investing LLC raised its stake in Brighthouse Financial by 11.0% during the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock worth $118,000 after acquiring an additional 202 shares during the period. Mariner LLC raised its stake in Brighthouse Financial by 4.2% during the fourth quarter. Mariner LLC now owns 6,055 shares of the company's stock worth $291,000 after acquiring an additional 242 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Brighthouse Financial by 0.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 72,872 shares of the company's stock worth $3,501,000 after acquiring an additional 388 shares during the period. Institutional investors own 81.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BHF. Barclays decreased their target price on shares of Brighthouse Financial from $76.00 to $70.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. 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 research report on Tuesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Morgan Stanley decreased their target price on shares of Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating for the company in a research report on Monday, July 14th. Finally, Wall Street Zen cut shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Brighthouse Financial has an average rating of "Hold" and an average price target of $60.30.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock traded up $0.04 on Wednesday, hitting $50.51. The company had a trading volume of 636,010 shares, compared to its average volume of 642,299. The business has a 50-day simple moving average of $55.89 and a 200-day simple moving average of $55.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $2.90 billion, a PE ratio of 6.06 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.

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

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction 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 sale, the executive vice president owned 18,441 shares of the company's stock, valued at $1,097,423.91. This trade represents a 13.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.