Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 41.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,618 shares of the company's stock after selling 73,009 shares during the period. Millennium Management LLC owned about 0.17% of Brighthouse Financial worth $4,930,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BHF. Jacobs Levy Equity Management Inc. boosted its holdings in Brighthouse Financial by 3.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 732,689 shares of the company's stock valued at $35,198,000 after purchasing an additional 24,662 shares in the last quarter. Deutsche Bank AG boosted its holdings in Brighthouse Financial by 1.4% in the fourth quarter. Deutsche Bank AG now owns 67,990 shares of the company's stock valued at $3,266,000 after purchasing an additional 941 shares in the last quarter. Bridgefront Capital LLC acquired a new position in Brighthouse Financial in the fourth quarter valued at approximately $253,000. Balyasny Asset Management L.P. acquired a new position in Brighthouse Financial in the fourth quarter valued at approximately $3,478,000. Finally, Bayesian Capital Management LP acquired a new position in Brighthouse Financial in the fourth quarter valued at approximately $595,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $59.51, for a total transaction of $178,530.00. Following the transaction, the executive vice president now owns 18,441 shares in the company, valued at approximately $1,097,423.91. The trade was a 13.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company's stock.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF traded down $0.68 during mid-day trading on Monday, hitting $59.13. 815,363 shares of the company were exchanged, compared to its average volume of 583,329. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $55.68 and a 200-day simple moving average of $54.29. Brighthouse Financial, Inc. has a 1-year low of $40.00 and a 1-year high of $64.12. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 11.46 and a beta of 0.96.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its quarterly 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 return on equity of 26.94% and a net margin of 8.21%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the business earned $4.25 earnings per share. Brighthouse Financial's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BHF. UBS Group set a $72.00 price target on Brighthouse Financial in a report on Tuesday, March 18th. Morgan Stanley upped their price target on Brighthouse Financial from $41.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Wells Fargo & Company decreased their price objective on Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Raymond James raised Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price objective for the company in a report on Tuesday, March 18th. Finally, Jefferies Financial Group downgraded Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 price objective for the company. in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, five have issued 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 stock has an average rating of "Hold" and an average target price of $60.80.

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.