Charles Schwab Investment Management Inc. Sells 4,733 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Charles Schwab Investment Management Inc. trimmed its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 362,674 shares of the company’s stock after selling 4,733 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Brighthouse Financial were worth $17,423,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BHF. State Street Corp increased its holdings in Brighthouse Financial by 2.2% in the third quarter. State Street Corp now owns 2,314,905 shares of the company’s stock valued at $104,240,000 after purchasing an additional 50,441 shares during the period. Institute for Wealth Management LLC. bought a new position in Brighthouse Financial in the 4th quarter valued at about $287,000. Bank of New York Mellon Corp lifted its stake in Brighthouse Financial by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 525,388 shares of the company’s stock valued at $25,240,000 after acquiring an additional 9,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Brighthouse Financial in the 4th quarter worth approximately $312,000. Finally, Range Financial Group LLC purchased a new position in shares of Brighthouse Financial in the 4th quarter worth about $826,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insider Buying and Selling

In other news, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the sale, the executive vice president now directly owns 66,262 shares in the company, valued at approximately $4,041,982. This represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Brighthouse Financial Stock Down 0.2 %

Shares of BHF stock opened at $57.98 on Friday. The company has a 50 day simple moving average of $56.27 and a two-hundred day simple moving average of $50.65. The stock has a market cap of $3.37 billion, a P/E ratio of 11.24 and a beta of 1.11. Brighthouse Financial, Inc. has a 12 month low of $40.00 and a 12 month high of $64.12. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, beating the consensus estimate of $4.56 by $1.32. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. On average, research analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on BHF. Morgan Stanley set a $52.00 price target on shares of Brighthouse Financial in a research report on Friday, February 28th. Wells Fargo & Company raised Brighthouse Financial from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $41.00 to $59.00 in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Piper Sandler raised their price objective on Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, UBS Group set a $72.00 target price on Brighthouse Financial in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.80.

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.