Northern Trust Corp Boosts Stake in Brighthouse Financial, Inc. $BHF

Key Points

• Northern Trust Corp raised its stake in Brighthouse Financial by 6.1% in the first quarter, now owning approximately $41.77 million worth of the company's stock.
• Brighthouse Financial reported a net loss of $1.27 per share for the latest quarter, below analysts' consensus estimate of $4.70.
• Wall Street analysts have adjusted their price targets for Brighthouse Financial, with Keefe, Bruyette & Woods reducing their price target from $57.00 to $50.00 and others showing various ratings from Strong Buy to Sell.

Northern Trust Corp raised its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 720,243 shares of the company's stock after buying an additional 41,323 shares during the period. Northern Trust Corp owned about 1.25% of Brighthouse Financial worth $41,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Brighthouse Financial during the 4th quarter worth approximately $384,000. Mariner LLC raised its stake in shares of Brighthouse Financial by 4.2% during the 4th quarter. Mariner LLC now owns 6,055 shares of the company's stock worth $291,000 after acquiring an additional 242 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Brighthouse Financial by 181.0% during the 4th quarter. First Trust Advisors LP now owns 23,576 shares of the company's stock worth $1,133,000 after acquiring an additional 15,185 shares in the last quarter. Stifel Financial Corp increased its stake in Brighthouse Financial by 3.0% during the 4th quarter. Stifel Financial Corp now owns 15,628 shares of the company's stock valued at $751,000 after purchasing an additional 455 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Brighthouse Financial by 6.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,012 shares of the company's stock valued at $1,875,000 after purchasing an additional 2,290 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Price Performance

BHF traded down $1.47 during midday trading on Wednesday, hitting $44.69. 1,220,683 shares of the company traded hands, compared to its average volume of 593,762. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 4.84 and a beta of 0.87. 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 simple moving average of $48.70 and a two-hundred day simple moving average of $53.90.

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

Wall Street Analysts Forecast Growth

BHF has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating on the stock in a research note on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Barclays cut their price objective on shares of Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Keefe, Bruyette & Woods cut their price objective on shares of Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, August 11th. Finally, Wells Fargo & Company increased their price objective on shares of Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $59.67.

Brighthouse Financial Company 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.