Brighthouse Financial, Inc. (NASDAQ:BHF) Position Trimmed by Arizona State Retirement System

Arizona State Retirement System trimmed its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHFGet Rating) by 3.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,576 shares of the company’s stock after selling 793 shares during the period. Arizona State Retirement System’s holdings in Brighthouse Financial were worth $1,115,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Brighthouse Financial by 451.5% in the 1st quarter. Allworth Financial LP now owns 535 shares of the company’s stock valued at $28,000 after acquiring an additional 438 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Brighthouse Financial by 30.5% in the 4th quarter. Fifth Third Bancorp now owns 783 shares of the company’s stock valued at $41,000 after acquiring an additional 183 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Brighthouse Financial in the 4th quarter valued at approximately $45,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Brighthouse Financial in the 1st quarter valued at approximately $88,000. Finally, Quent Capital LLC purchased a new stake in shares of Brighthouse Financial in the 4th quarter valued at approximately $101,000. 81.47% of the stock is currently owned by institutional investors.

Brighthouse Financial Stock Down 0.5 %

Brighthouse Financial stock opened at $43.21 on Tuesday. The company has a market capitalization of $3.24 billion, a P/E ratio of 3.36 and a beta of 1.36. The firm’s fifty day simple moving average is $43.26 and its 200-day simple moving average is $49.01. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.25. Brighthouse Financial, Inc. has a 1-year low of $38.38 and a 1-year high of $62.33.

Brighthouse Financial (NASDAQ:BHFGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.53 by $0.54. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. Brighthouse Financial had a net margin of 12.49% and a return on equity of 11.56%. Brighthouse Financial’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.86 EPS. Sell-side analysts forecast that Brighthouse Financial, Inc. will post 9.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BHF has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Brighthouse Financial from $59.00 to $50.00 in a research report on Monday, July 11th. Wells Fargo & Company upgraded shares of Brighthouse Financial from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $53.00 to $54.00 in a research report on Tuesday, April 12th. Morgan Stanley cut their target price on shares of Brighthouse Financial from $62.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 6th. Barclays cut their target price on shares of Brighthouse Financial from $55.00 to $44.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Finally, Evercore ISI cut their target price on shares of Brighthouse Financial from $57.00 to $52.00 and set an “in-line” rating for the company in a research report on Wednesday, July 6th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.60.

About Brighthouse Financial

(Get Rating)

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 offers 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.

See Also

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

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