Vanguard Group Inc. Sells 35,745 Shares of Brighthouse Financial, Inc. $BHF

Key Points

• The Vanguard Group Inc. reduced its stake in Brighthouse Financial, selling 35,745 shares, which now totals 5,845,437 shares owned, representing 10.13% of the company.
• Brighthouse Financial's shares are currently down 2.1%, with the stock opening at $45.68 and experiencing a 12-month low of $40.00 and a high of $64.12.
• The company reported quarterly earnings per share (EPS) of $3.43, missing estimates by $1.27, and experienced a 2.8% decline in revenue year-over-year.

Vanguard Group Inc. trimmed its position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,845,437 shares of the company's stock after selling 35,745 shares during the period. Vanguard Group Inc. owned approximately 10.13% of Brighthouse Financial worth $338,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BHF. AQR Capital Management LLC increased its position in Brighthouse Financial by 156.9% in the 4th quarter. AQR Capital Management LLC now owns 656,464 shares of the company's stock valued at $31,537,000 after buying an additional 400,924 shares in the last quarter. Algebris UK Ltd acquired a new position in Brighthouse Financial during the 1st quarter valued at about $11,761,000. GAMMA Investing LLC boosted its stake in Brighthouse Financial by 6,338.1% during the 1st quarter. GAMMA Investing LLC now owns 118,010 shares of the company's stock valued at $6,843,000 after purchasing an additional 116,177 shares during the last quarter. SG Americas Securities LLC boosted its stake in Brighthouse Financial by 1,764.2% during the 1st quarter. SG Americas Securities LLC now owns 121,229 shares of the company's stock valued at $7,030,000 after purchasing an additional 114,726 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Brighthouse Financial by 49.4% during the 4th quarter. Invesco Ltd. now owns 286,726 shares of the company's stock valued at $13,774,000 after purchasing an additional 94,801 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF traded down $0.27 during midday trading on Thursday, reaching $46.42. The company's stock had a trading volume of 432,541 shares, compared to its average volume of 804,929. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.12. The firm has a 50 day moving average price of $50.62 and a 200-day moving average price of $54.70. The stock has a market capitalization of $2.65 billion, a P/E ratio of 5.02 and a beta of 0.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BHF. Barclays cut their price target on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. lifted their price target on Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Piper Sandler cut their price target on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Wells Fargo & Company lifted their price target on Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods cut their price target on Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating for the company in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $59.67.

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 stock was sold at an average price of $59.51, for a total value of $178,530.00. Following the transaction, the executive vice president owned 18,441 shares in the company, valued at $1,097,423.91. The trade was a 13.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

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.