Brighthouse Financial (NASDAQ:BHF) PT Lowered to $45.00 at Piper Sandler

Brighthouse Financial (NASDAQ:BHF) had its price target reduced by Piper Sandler from $50.00 to $45.00 in a research note published on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research analysts have also commented on BHF. Wells Fargo & Company dropped their price objective on shares of Brighthouse Financial from $51.00 to $50.00 and set an equal weight rating for the company in a research note on Friday, May 10th. Keefe, Bruyette & Woods upgraded shares of Brighthouse Financial from an underperform rating to a market perform rating and dropped their price objective for the company from $48.00 to $47.00 in a research note on Monday, June 17th. Finally, Evercore ISI cut their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an in-line rating on the stock in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $49.38.

Brighthouse Financial Trading Up 0.1 %

Shares of BHF stock opened at $43.37 on Friday. Brighthouse Financial has a 1 year low of $40.24 and a 1 year high of $56.24. 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 company has a market cap of $2.69 billion, a price-to-earnings ratio of -2.28 and a beta of 1.09. The firm has a fifty day moving average price of $44.93 and a 200-day moving average price of $48.27.

Brighthouse Financial (NASDAQ:BHF) last released 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. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.14 billion. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.86 earnings per share. As a group, equities analysts predict that Brighthouse Financial will post 17.37 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 in the company, valued at approximately $1,876,101.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Inserra bought 2,500 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the acquisition, the director now directly owns 5,500 shares in the company, valued at approximately $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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Brighthouse Financial by 29.7% in the 3rd quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock valued at $101,496,000 after purchasing an additional 475,327 shares in the last quarter. UBS Group AG lifted its holdings in shares of Brighthouse Financial by 4.5% in the fourth quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock valued at $56,200,000 after buying an additional 45,938 shares during the period. Northern Trust Corp lifted its holdings in shares of Brighthouse Financial by 0.3% in the third quarter. Northern Trust Corp now owns 723,928 shares of the company’s stock valued at $35,429,000 after buying an additional 2,438 shares during the period. American Century Companies Inc. lifted its holdings in shares of Brighthouse Financial by 21.8% in the third quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock valued at $32,663,000 after buying an additional 119,345 shares during the period. Finally, Norges Bank purchased a new stake in shares of Brighthouse Financial during the fourth quarter valued at $33,362,000. 81.24% of the stock is owned by institutional investors and hedge funds.

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.