Royal Bank of Canada Reduces Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Royal Bank of Canada decreased its position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 698,608 shares of the company's stock after selling 171,069 shares during the period. Royal Bank of Canada owned about 1.18% of Brighthouse Financial worth $33,561,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BHF. Aster Capital Management DIFC Ltd lifted its position in shares of Brighthouse Financial by 327.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock worth $44,000 after acquiring an additional 703 shares in the last quarter. KBC Group NV lifted its position in shares of Brighthouse Financial by 33.1% during the fourth quarter. KBC Group NV now owns 2,664 shares of the company's stock worth $128,000 after acquiring an additional 663 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Brighthouse Financial during the fourth quarter worth $217,000. Guggenheim Capital LLC purchased a new stake in shares of Brighthouse Financial during the fourth quarter worth $227,000. Finally, Polymer Capital Management US LLC purchased a new stake in shares of Brighthouse Financial during the fourth quarter worth $233,000. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BHF. Keefe, Bruyette & Woods upped their price target on shares of Brighthouse Financial from $56.00 to $59.00 and gave the stock a "market perform" rating in a report on Tuesday, May 13th. Jefferies Financial Group cut shares of Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 price target on the stock. in a report on Monday, February 3rd. Raymond James raised shares of 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 target on shares of Brighthouse Financial in a report on Tuesday, March 18th. Finally, Piper Sandler upped their price target on shares of Brighthouse Financial from $52.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $60.80.

Brighthouse Financial Stock Up 0.8%

BHF opened at $58.77 on Friday. The stock has a market cap of $3.37 billion, a PE ratio of 11.39 and a beta of 0.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12. The business's fifty day simple moving average is $55.59 and its 200 day simple moving average is $53.86.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.55). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. The firm's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.25 EPS. As a group, research analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.