Brighthouse Financial, Inc. $BHF Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its holdings in Brighthouse Financial, Inc. (NASDAQ:BHF) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,596 shares of the company’s stock after selling 15,625 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Brighthouse Financial were worth $1,014,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BHF. Millennium Management LLC boosted its holdings in shares of Brighthouse Financial by 156.2% in the first quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock valued at $15,245,000 after acquiring an additional 160,272 shares during the period. Jones Financial Companies Lllp grew its position in shares of Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after acquiring an additional 735 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Brighthouse Financial during the first quarter worth approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Brighthouse Financial by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company’s stock worth $12,128,000 after acquiring an additional 13,245 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Brighthouse Financial by 12.5% during the second quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock worth $350,000 after acquiring an additional 725 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BHF. Weiss Ratings restated a “hold (c)” rating on shares of Brighthouse Financial in a research report on Monday, December 29th. Zacks Research downgraded Brighthouse Financial from a “hold” rating to a “strong sell” rating in a report on Monday, March 30th. Barclays downgraded Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price target for the company. in a report on Thursday, January 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 price target on shares of Brighthouse Financial in a report on Thursday, March 26th. Finally, Argus raised Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $60.86.

Brighthouse Financial Trading Up 0.6%

NASDAQ:BHF opened at $60.15 on Tuesday. The stock has a fifty day moving average price of $61.61 and a two-hundred day moving average price of $60.35. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 10.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.95 and a current ratio of 0.95. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $66.33.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.