Vanguard Group Inc. Has $338.98 Million Stake in 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. lessened its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,845,437 shares of the company's stock after selling 35,745 shares during the quarter. Vanguard Group Inc. owned 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 modified their holdings of BHF. Raiffeisen Bank International AG boosted its position in shares of Brighthouse Financial by 18.9% in the first quarter. Raiffeisen Bank International AG now owns 12,088 shares of the company's stock worth $696,000 after acquiring an additional 1,925 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Brighthouse Financial by 5.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,598 shares of the company's stock valued at $209,000 after buying an additional 181 shares in the last quarter. XTX Topco Ltd acquired a new position in Brighthouse Financial during the first quarter valued at approximately $1,057,000. Algebris UK Ltd acquired a new position in Brighthouse Financial during the first quarter valued at approximately $11,761,000. Finally, Federated Hermes Inc. lifted its position in Brighthouse Financial by 2.3% during the first quarter. Federated Hermes Inc. now owns 14,139 shares of the company's stock valued at $820,000 after buying an additional 318 shares in the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the business's 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 in the company, valued at $1,097,423.91. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by insiders.

Brighthouse Financial Stock Up 0.6%

Shares of NASDAQ:BHF traded up $0.28 during midday trading on Wednesday, reaching $46.41. The company had a trading volume of 125,392 shares, compared to its average volume of 845,533. 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, Inc. has a one year low of $40.00 and a one year high of $64.12. The stock's fifty day moving average price is $51.06 and its 200-day moving average price is $54.85. The stock has a market capitalization of $2.65 billion, a P/E ratio of 5.02 and a beta of 0.88.

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

Analysts Set New Price Targets

BHF has been the topic of a number of recent research reports. Piper Sandler reduced their price target on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods reduced their price target on shares of Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating on the stock in a research report on Monday, August 11th. Barclays reduced their price target on shares of Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their target price on shares of Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. One equities research 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. According to data from MarketBeat, Brighthouse Financial presently has an average rating of "Hold" and an average price target 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.