Allspring Global Investments Holdings LLC Trims Stock Holdings in Brighthouse Financial, Inc. (NASDAQ:BHF)

Allspring Global Investments Holdings LLC lessened its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,559 shares of the company’s stock after selling 4,061 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.12% of Brighthouse Financial worth $4,157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its position in Brighthouse Financial by 0.7% during the second quarter. BlackRock Inc. now owns 6,758,437 shares of the company’s stock valued at $320,012,000 after purchasing an additional 46,528 shares during the period. State Street Corp lifted its holdings in shares of Brighthouse Financial by 4.2% in the 1st quarter. State Street Corp now owns 2,354,170 shares of the company’s stock valued at $121,616,000 after buying an additional 94,816 shares during the period. Royal Bank of Canada boosted its stake in shares of Brighthouse Financial by 29.7% in the third quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock worth $101,496,000 after buying an additional 475,327 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Brighthouse Financial by 0.7% in the first quarter. Geode Capital Management LLC now owns 1,021,615 shares of the company’s stock worth $45,063,000 after buying an additional 7,337 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Brighthouse Financial by 4.5% during the second quarter. Goldman Sachs Group Inc. now owns 928,329 shares of the company’s stock worth $38,080,000 after acquiring an additional 39,954 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

Brighthouse Financial Trading Up 2.8 %

Shares of BHF opened at $48.91 on Friday. The firm’s fifty day moving average is $48.29 and its two-hundred day moving average is $49.70. The stock has a market cap of $3.08 billion, a PE ratio of -2.64 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.63. Brighthouse Financial, Inc. has a 52-week low of $39.24 and a 52-week high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $2.92 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $3.51 earnings per share. Research analysts forecast that Brighthouse Financial, Inc. will post 17.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BHF has been the topic of several recent research reports. Morgan Stanley lowered Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective on the stock. in a research report on Friday, February 23rd. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $50.00 price target on shares of Brighthouse Financial in a research report on Friday, February 16th. Piper Sandler upped their price objective on shares of Brighthouse Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company lifted their target price on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Brighthouse Financial currently has a consensus rating of “Hold” and an average price target of $51.14.

Insiders Place Their Bets

In other news, EVP Vonda Huss sold 10,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the transaction, the executive vice president now owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Vonda Huss sold 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.85, for a total value of $468,500.00. Following the transaction, the executive vice president now owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now owns 390,765 shares in the company, valued at $18,350,324.40. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Brighthouse Financial Company 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.