Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $60.00

Brighthouse Financial (NASDAQ:BHF) had its price objective hoisted by Keefe, Bruyette & Woods from $48.00 to $60.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

BHF has been the subject of a number of other research reports. Barclays raised shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $85.00 in a research note on Wednesday. Piper Sandler dropped their price target on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their price objective on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their price target on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Brighthouse Financial has an average rating of “Hold” and a consensus target price of $57.63.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $61.71 on Wednesday. The firm has a market cap of $3.66 billion, a P/E ratio of -3.04 and a beta of 1.08. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $50.30 and its 200-day moving average is $47.72. Brighthouse Financial has a 12-month low of $40.00 and a 12-month high of $64.00.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.50 by ($0.51). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the company earned $4.18 earnings per share. Sell-side analysts predict that Brighthouse Financial will post 18.2 earnings per share for the current year.

Insider Activity

In related news, EVP Myles Lambert sold 8,400 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the transaction, the executive vice president now owns 33,407 shares in the company, valued at $1,727,141.90. The trade was a 20.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

A number of large investors have recently bought and sold shares of BHF. UMB Bank n.a. raised its stake in Brighthouse Financial by 974.1% in the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock valued at $28,000 after buying an additional 565 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Brighthouse Financial by 989.5% during the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after acquiring an additional 564 shares during the period. CWM LLC increased its holdings in shares of Brighthouse Financial by 29.4% during the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after purchasing an additional 339 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after acquiring an additional 855 shares during the period. Finally, Quarry LP purchased a new position in Brighthouse Financial during the second quarter worth approximately $89,000. 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.