Brighthouse Financial (NASDAQ:BHF – Free Report) The price target was cut by Evercore ISI from $56.00 to $52.00 in a report published on Thursday, Benzinga reports. They currently have an in-line rating on the stock.
Several other research analysts have also recently commented on BHF. JPMorgan Chase & Co. raised their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an underweight rating in a research note on Tuesday, July 2nd. Wells Fargo & Company lowered their price target on Brighthouse Financial from $51.00 to $50.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Piper Sandler lowered their price target on Brighthouse Financial from $50.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, June 28th. Jefferies Financial Group raised their price target on Brighthouse Financial from $59.00 to $63.00 and gave the stock a buy rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upgraded Brighthouse Financial from an underperform rating to a market perform rating and decreased their price target for the company from $48.00 to $47.00 in a research report on Monday, June 17. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating. The company currently has an average rating of Hold and a consensus price target of $51.56, according to MarketBeat.
Read our latest stock analysis on Brighthouse Financial
Brighthouse Financial trading down 0.5%
NASDAQ BHF opened at $41.96 on Thursday. The stock’s 50-day moving average is $44.95 and its 200-day moving average is $47.13. The company has a market cap of $2.61 billion, a P/E ratio of -2.20 and a beta of 1.08. Brighthouse Financial has a twelve-month low of $40.24 and a twelve-month high of $56.24. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.74.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7. The company reported earnings per share (EPS) of $5.57 for the quarter, beating analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The company posted revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. In the same quarter last year, the company posted earnings per share of $4.13. The company’s quarterly revenue grew 3.3% compared to the same quarter last year. Research analysts forecast that Brighthouse Financial will report earnings per share of $15.01 for the current fiscal year.
Insider buying and selling at Brighthouse Financial
In related news, Director Michael J. Inserra bought 2,500 shares of the company’s stock on Thursday, May 30. The shares were acquired at an average price of $43.20 per share, for a total value of $108,000.00. Following the completion of the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $237,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Edward A. Spehar sold 7,125 shares of the company’s stock on Wednesday, May 29. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Inserra acquired 2,500 shares of the company’s stock in a transaction dated Thursday, May 30. The shares were acquired at an average price of $43.20 per share, for a total value of $108,000.00. Following the purchase, the director now owns 5,500 shares of the company’s stock, valued at $237,600. The disclosure regarding this purchase can be found here. 1.40% of the shares are currently owned by company insiders.
Hedge funds comment on Brighthouse Financial
Hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its holdings in shares of Brighthouse Financial by 39.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company’s stock valued at $4,359,000 after acquiring an additional 23,922 shares during the period. Algebris UK Ltd acquired a new position in shares of Brighthouse Financial in the first quarter valued at about $6,938,000. Campbell & CO Investment Adviser LLC increased its holdings in shares of Brighthouse Financial by 138.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 34,436 shares of the company’s stock valued at $1,822,000 after acquiring an additional 20,015 shares in the last quarter. Seven Eight Capital LP increased its holdings in shares of Brighthouse Financial by 342.1% in the first quarter. Seven Eight Capital LP now owns 28,063 shares of the company’s stock valued at $1,446,000 after purchasing an additional 21,716 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Brighthouse Financial in the first quarter valued at about $2,278,000. Institutional investors own 81.24% of the company’s stock.
About Brighthouse Financial
(Get free report)
Brighthouse Financial, Inc. provides annuity and life insurance products in the United States. The company operates in three segments: annuities, life insurance and run-off insurance. The annuities segment includes variable, fixed, index-linked and income-related annuities to meet contract holders’ needs for protected wealth accumulation on a tax-free basis, wealth transfer and income security.
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