Great Lakes Advisors LLC Trims Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Great Lakes Advisors LLC trimmed its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 401,033 shares of the company’s stock after selling 978 shares during the period. Great Lakes Advisors LLC owned 0.48% of Brighthouse Financial worth $18,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hancock Whitney Corp grew its stake in shares of Brighthouse Financial by 0.6% in the 2nd quarter. Hancock Whitney Corp now owns 41,594 shares of the company’s stock worth $1,894,000 after buying an additional 237 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Brighthouse Financial in the 1st quarter worth about $25,000. Pinnacle Holdings LLC lifted its holdings in shares of Brighthouse Financial by 1.8% in the 1st quarter. Pinnacle Holdings LLC now owns 34,960 shares of the company’s stock worth $1,547,000 after acquiring an additional 625 shares during the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Brighthouse Financial by 28.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 2,964 shares of the company’s stock worth $135,000 after acquiring an additional 659 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Brighthouse Financial by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,101 shares of the company’s stock valued at $403,000 after buying an additional 664 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

BHF opened at $41.50 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a fifty day moving average price of $45.36 and a 200 day moving average price of $45.82. The stock has a market cap of $3.45 billion, a P/E ratio of -0.81 and a beta of 1.56. Brighthouse Financial, Inc. has a 1 year low of $25.20 and a 1 year high of $49.99.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, August 5th. The company reported $5.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.12 by $2.20. Brighthouse Financial had a negative net margin of 150.00% and a positive return on equity of 9.31%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Equities analysts expect that Brighthouse Financial, Inc. will post 16.85 EPS for the current year.

Several research firms have recently commented on BHF. Barclays boosted their price target on shares of Brighthouse Financial from $42.00 to $47.00 and gave the company an “underweight” rating in a report on Monday, August 9th. Piper Sandler cut their price objective on shares of Brighthouse Financial from $53.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, July 8th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on shares of Brighthouse Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 15th. Wells Fargo & Company lifted their price objective on shares of Brighthouse Financial from $45.00 to $47.00 and gave the stock an “underweight” rating in a research report on Monday, August 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Brighthouse Financial from $46.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Monday, August 9th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and a consensus price target of $46.67.

About Brighthouse Financial

Brighthouse Financial, Inc operates as a holding company, which engages in the provision of life insurance and annuities through independent distribution channels and marketing arrangements with diverse network of distribution partners. It operates through the following segments: Annuities; Life; Run-Off; and Corporate & Others.

Further Reading: How is a management fee different from a performance fee?

Want to see what other hedge funds are holding BHF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brighthouse Financial, Inc. (NASDAQ:BHF).

Institutional Ownership by Quarter for Brighthouse Financial (NASDAQ:BHF)

Receive News & Ratings for Brighthouse Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brighthouse Financial and related companies with MarketBeat.com's FREE daily email newsletter.