The Manufacturers Life Insurance Company Sells 10,211 Shares of Brighthouse Financial, Inc. $BHF

The Manufacturers Life Insurance Company trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 25.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,243 shares of the company’s stock after selling 10,211 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of Brighthouse Financial worth $1,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BHF. Mercer Global Advisors Inc. ADV increased its stake in shares of Brighthouse Financial by 0.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,346 shares of the company’s stock worth $1,772,000 after purchasing an additional 183 shares during the period. Waterfront Wealth Inc. boosted its stake in Brighthouse Financial by 0.6% during the 4th quarter. Waterfront Wealth Inc. now owns 35,055 shares of the company’s stock valued at $2,255,000 after purchasing an additional 192 shares during the period. Parallel Advisors LLC grew its holdings in Brighthouse Financial by 8.7% in the 1st quarter. Parallel Advisors LLC now owns 2,795 shares of the company’s stock valued at $167,000 after buying an additional 224 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after buying an additional 226 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Brighthouse Financial by 0.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 32,275 shares of the company’s stock worth $2,090,000 after buying an additional 273 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings cut Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised shares of Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Eight analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $60.50.

Brighthouse Financial Price Performance

Shares of BHF stock opened at $60.80 on Monday. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a fifty day moving average price of $63.50 and a 200 day moving average price of $62.46. The stock has a market cap of $3.50 billion, a P/E ratio of 4.85 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, August 6th. The company reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.86 by ($0.41). The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $2.18 billion. Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $3.43 EPS. Analysts predict that Brighthouse Financial, Inc. will post 19.2 earnings per share for the current year.

Brighthouse Financial Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.