Brighthouse Financial (NASDAQ:BHF) Cut to Underweight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Brighthouse Financial (NASDAQ:BHF) from an equal weight rating to an underweight rating in a research note published on Monday, Marketbeat.com reports. They currently have $40.00 price target on the stock, down from their prior price target of $51.00.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised shares of Brighthouse Financial from an underperform rating to a market perform rating and cut their target price for the company from $48.00 to $47.00 in a research note on Monday, June 17th. Jefferies Financial Group upped their target price on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a buy rating in a research note on Monday, July 29th. Piper Sandler dropped 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, June 28th. Evercore ISI decreased their price objective on shares of Brighthouse Financial from $56.00 to $52.00 and set an in-line rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an underweight rating in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $50.00.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $41.34 on Monday. The stock has a market cap of $2.57 billion, a PE ratio of -2.17 and a beta of 1.08. The company’s fifty day moving average is $44.80 and its 200 day moving average is $46.88. Brighthouse Financial has a 52 week low of $40.24 and a 52 week 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) last issued its earnings results on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the company earned $4.13 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Brighthouse Financial will post 15.01 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Michael J. Inserra acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $43.20 per share, for a total transaction of $108,000.00. Following the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $237,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brighthouse Financial

Several large investors have recently modified their holdings of the business. Lindbrook Capital LLC increased its stake in Brighthouse Financial by 412.3% during the 4th quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock valued at $29,000 after purchasing an additional 437 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after buying an additional 303 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Brighthouse Financial during the fourth quarter worth about $60,000. EntryPoint Capital LLC acquired a new stake in Brighthouse Financial during the first quarter worth about $110,000. Finally, Bfsg LLC acquired a new stake in Brighthouse Financial during the fourth quarter worth about $167,000. Institutional investors 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.