Bank of New York Mellon Corp Has $33.59 Million Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Bank of New York Mellon Corp lessened its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 773,623 shares of the company’s stock after selling 26,782 shares during the quarter. Bank of New York Mellon Corp’s holdings in Brighthouse Financial were worth $33,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC grew its holdings in shares of Brighthouse Financial by 29.8% in the 3rd quarter. Atlas Capital Advisors LLC now owns 5,308 shares of the company’s stock worth $230,000 after purchasing an additional 1,220 shares during the last quarter. Tudor Investment Corp Et Al bought a new stake in Brighthouse Financial during the third quarter worth about $1,457,000. California Public Employees Retirement System grew its stake in Brighthouse Financial by 7.2% during the third quarter. California Public Employees Retirement System now owns 179,644 shares of the company’s stock worth $7,800,000 after buying an additional 11,998 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Brighthouse Financial by 42.4% during the second quarter. Meeder Asset Management Inc. now owns 1,148 shares of the company’s stock worth $47,000 after buying an additional 342 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of Brighthouse Financial by 7.1% in the third quarter. Independent Advisor Alliance now owns 29,372 shares of the company’s stock valued at $1,275,000 after acquiring an additional 1,943 shares during the last quarter. Institutional investors own 79.90% of the company’s stock.

Brighthouse Financial Trading Down 7.4 %

Shares of NASDAQ BHF opened at $45.13 on Tuesday. Brighthouse Financial, Inc. has a fifty-two week low of $38.38 and a fifty-two week high of $60.54. The firm has a market capitalization of $3.06 billion, a P/E ratio of -14.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.61 and a quick ratio of 0.61. The company’s 50 day simple moving average is $55.55 and its 200 day simple moving average is $52.51.

Brighthouse Financial (NASDAQ:BHF – Get Rating) last posted its quarterly earnings results on Friday, February 10th. The company reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $1.46. Brighthouse Financial had a return on equity of 10.36% and a net margin of 0.06%. The company had revenue of $454.00 million for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the business posted $5.18 EPS. The firm’s quarterly revenue was down 77.5% on a year-over-year basis. On average, analysts predict that Brighthouse Financial, Inc. will post 14.59 EPS for the current year.

Wall Street Analyst Weigh In

BHF has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on Brighthouse Financial from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 13th. Morgan Stanley cut their price target on Brighthouse Financial from $65.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, February 24th. Evercore ISI increased their price objective on shares of Brighthouse Financial to $55.00 in a report on Tuesday, November 15th. Barclays raised their price objective on shares of Brighthouse Financial from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. Finally, Jefferies Financial Group increased their price target on shares of Brighthouse Financial from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. Eight research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Brighthouse Financial has a consensus rating of “Hold” and a consensus price target of $57.13.

About Brighthouse Financial

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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 a diverse network of distribution partners. It operates through the following segments: Annuities, Life, Run-Off, and Corporate & Others.