JPMorgan Chase & Co. Has $7.43 Million Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

JPMorgan Chase & Co. lessened its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,044 shares of the company’s stock after selling 18,965 shares during the period. JPMorgan Chase & Co.’s holdings in Brighthouse Financial were worth $7,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in Brighthouse Financial by 974.1% during the 3rd quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after purchasing an additional 565 shares during the last quarter. Venturi Wealth Management LLC increased its position in Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after buying an additional 564 shares during the period. CWM LLC lifted its holdings in shares of Brighthouse Financial by 29.4% during the third quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after buying an additional 339 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock valued at $78,000 after acquiring an additional 855 shares during the period. Finally, Quarry LP acquired a new position in shares of Brighthouse Financial in the second quarter valued at about $89,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Stock Up 2.9 %

Shares of BHF opened at $47.78 on Wednesday. The firm has a 50 day simple moving average of $49.65 and a two-hundred day simple moving average of $46.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $54.73. The company has a market cap of $2.84 billion, a P/E ratio of -2.35 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same period last year, the firm posted $4.18 EPS. Research analysts forecast that Brighthouse Financial, Inc. will post 18.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total transaction of $434,280.00. Following the sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. The trade was a 20.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

BHF has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a research note on Tuesday. Piper Sandler dropped their price target on shares of Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price target on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays lifted their price objective on Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.38.

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.