Brighthouse Financial (NASDAQ:BHF) Shares Down 9.1%

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report)'s stock price traded down 9.1% during trading on Wednesday . The company traded as low as $45.78 and last traded at $46.44. 253,571 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 447,302 shares. The stock had previously closed at $51.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BHF. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $50.00 price target on shares of Brighthouse Financial in a report on Friday, February 16th. Wells Fargo & Company raised their price objective on Brighthouse Financial from $49.00 to $51.00 and gave the company an "equal weight" rating in a report on Thursday, April 11th. Piper Sandler upped their price target on shares of Brighthouse Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, April 5th. Finally, Morgan Stanley cut shares of Brighthouse Financial from an "equal weight" rating to an "underweight" rating and set a $52.00 target price on the stock. in a report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $51.14.

Brighthouse Financial Price Performance

The firm's fifty day simple moving average is $48.57 and its 200-day simple moving average is $49.83. The firm has a market capitalization of $2.86 billion, a PE ratio of -2.47 and a beta of 1.14. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, topping analysts' consensus estimates of $3.96 by $0.29. Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the company earned $2.86 EPS. The company's quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts forecast that Brighthouse Financial, Inc. will post 17.12 earnings per share for the current fiscal year.

Insider Activity

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.96, for a total value of $1,174,000.00. Following the transaction, the chief executive officer now owns 390,765 shares of the company's stock, valued at $18,350,324.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now directly owns 390,765 shares of the company's stock, valued at $18,350,324.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vonda Huss sold 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the transaction, the executive vice president now owns 27,080 shares in the company, valued at $1,268,698. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Brighthouse Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in Brighthouse Financial by 412.3% during the fourth quarter. Lindbrook Capital LLC now owns 543 shares of the company's stock valued at $29,000 after acquiring an additional 437 shares during the period. Blue Trust Inc. lifted its holdings in Brighthouse Financial by 123.2% in the 4th quarter. Blue Trust Inc. now owns 732 shares of the company's stock worth $36,000 after purchasing an additional 404 shares in the last quarter. GAMMA Investing LLC bought a new position in Brighthouse Financial in the 4th quarter worth approximately $60,000. Quadrant Capital Group LLC grew its holdings in Brighthouse Financial by 36.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock valued at $60,000 after buying an additional 303 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in Brighthouse Financial by 23.0% during the 4th quarter. Quent Capital LLC now owns 2,046 shares of the company's stock valued at $108,000 after buying an additional 382 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

About Brighthouse Financial

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.