Brighthouse Financial, Inc. (NASDAQ:BHF) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 6.9% during the fourth quarter, Holdings Channel reports. The firm owned 3,829 shares of the company’s stock after selling 283 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Brighthouse Financial were worth $203,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Brighthouse Financial during the 4th quarter worth about $33,362,000. Royal Bank of Canada raised its holdings in shares of Brighthouse Financial by 29.7% during the third quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock valued at $101,496,000 after acquiring an additional 475,327 shares during the period. American Century Companies Inc. lifted its position in shares of Brighthouse Financial by 21.8% in the 3rd quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock valued at $32,663,000 after acquiring an additional 119,345 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Brighthouse Financial by 295.0% in the 4th quarter. Hsbc Holdings PLC now owns 147,825 shares of the company’s stock worth $7,869,000 after purchasing an additional 110,397 shares during the period. Finally, UBS Group AG grew its position in Brighthouse Financial by 4.5% during the 4th quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock worth $56,200,000 after purchasing an additional 45,938 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BHF shares. Wells Fargo & Company reduced their target price on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Keefe, Bruyette & Woods upgraded Brighthouse Financial from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $48.00 to $47.00 in a research report on Monday, June 17th. JPMorgan Chase & Co. upped their target price on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday. Evercore ISI decreased their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Finally, Piper Sandler lowered their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Brighthouse Financial presently has a consensus rating of “Hold” and a consensus price target of $50.44.

Insiders Place Their Bets

In related news, Director Michael J. Inserra purchased 2,500 shares of Brighthouse Financial stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $237,600. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Michael J. Inserra purchased 2,500 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $237,600. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total transaction of $298,608.75. Following the completion of the sale, the chief financial officer now owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Brighthouse Financial Trading Up 1.2 %

NASDAQ:BHF opened at $43.88 on Wednesday. The company has a market capitalization of $2.73 billion, a P/E ratio of -2.30 and a beta of 1.09. The stock’s 50 day moving average price is $44.81 and its 200 day moving average price is $48.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 0.83. Brighthouse Financial, Inc. has a 52 week low of $40.24 and a 52 week high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, topping the consensus estimate of $3.96 by $0.29. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.14 billion. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.86 earnings per share. On average, research analysts forecast that Brighthouse Financial, Inc. will post 17.37 EPS for the current fiscal year.

Brighthouse Financial 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.