Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $59.00

Brighthouse Financial (NASDAQ:BHF) had its price target upped by analysts at JPMorgan Chase & Co. from $58.00 to $59.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 34.92% from the stock’s previous close.

Several other equities research analysts have also recently commented on BHF. Wells Fargo & Company dropped their target price on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Jefferies Financial Group upped their price target on Brighthouse Financial from $46.00 to $49.00 and gave the company a “hold” rating in a report on Friday. Evercore ISI dropped their price target on Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Piper Sandler cut their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods upgraded shares of Brighthouse Financial from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $48.00 to $47.00 in a report on Monday, June 17th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, Brighthouse Financial presently has a consensus rating of “Hold” and an average price target of $50.44.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF traded up $0.36 during midday trading on Tuesday, hitting $43.73. 42,038 shares of the company’s stock were exchanged, compared to its average volume of 447,826. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50 day moving average price is $44.93 and its 200-day moving average price is $48.27. The firm has a market cap of $2.72 billion, a P/E ratio of -2.29 and a beta of 1.09. Brighthouse Financial has a twelve month low of $40.24 and a twelve month high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, topping the consensus estimate of $3.96 by $0.29. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company earned $2.86 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Brighthouse Financial will post 17.37 EPS for the current year.

Insider Activity

In related news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction dated Wednesday, May 29th. 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction dated Wednesday, May 29th. 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Inserra purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average cost of $43.20 per share, with a total value of $108,000.00. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $237,600. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Brighthouse Financial during the fourth quarter worth about $33,362,000. Royal Bank of Canada grew its stake in Brighthouse Financial by 29.7% during 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. Algebris UK Ltd bought a new stake in Brighthouse Financial during the first quarter worth about $6,938,000. American Century Companies Inc. grew its stake in Brighthouse Financial by 21.8% during the third quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after buying an additional 119,345 shares during the last quarter. Finally, Edgestream Partners L.P. grew its stake in Brighthouse Financial by 657.3% during the first quarter. Edgestream Partners L.P. now owns 136,460 shares of the company’s stock worth $7,033,000 after buying an additional 118,441 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

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.