Geode Capital Management LLC Cuts Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Geode Capital Management LLC lowered its position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,049,221 shares of the company's stock after selling 42,241 shares during the quarter. Geode Capital Management LLC owned approximately 1.77% of Brighthouse Financial worth $50,419,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BHF. Franklin Resources Inc. purchased a new stake in shares of Brighthouse Financial in the 4th quarter worth approximately $258,000. Alliancebernstein L.P. boosted its position in Brighthouse Financial by 41.5% during the 4th quarter. Alliancebernstein L.P. now owns 114,984 shares of the company's stock valued at $5,524,000 after acquiring an additional 33,716 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Brighthouse Financial in the 4th quarter valued at $1,694,000. New Age Alpha Advisors LLC bought a new position in shares of Brighthouse Financial in the 4th quarter worth $430,000. Finally, Norges Bank purchased a new stake in shares of Brighthouse Financial during the 4th quarter worth $37,131,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock traded up $0.93 on Friday, reaching $50.65. 520,964 shares of the stock were exchanged, compared to its average volume of 536,332. The business has a 50 day moving average price of $55.77 and a two-hundred day moving average price of $52.16. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 9.82 and a beta of 0.91. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $64.12. 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 (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 EPS for the quarter, beating the consensus estimate of $4.56 by $1.32. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. Analysts anticipate that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the executive vice president now owns 66,262 shares in the company, valued at approximately $4,041,982. This represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on BHF. Wells Fargo & Company reduced their target price on shares of Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. UBS Group set a $72.00 price objective on shares of Brighthouse Financial in a research note on Tuesday, March 18th. Jefferies Financial Group downgraded shares of Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 target price for the company. in a research note on Monday, February 3rd. Barclays raised Brighthouse Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $52.00 to $85.00 in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Brighthouse Financial from $60.00 to $66.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $62.00.

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.