Brighthouse Financial (NASDAQ:BHF) PT Lowered to $43.00

Brighthouse Financial (NASDAQ:BHF) had its price target reduced by Keefe, Bruyette & Woods from $47.00 to $43.00 in a report published on Wednesday, Benzinga reports. They currently have a market perform rating on the stock.

Several other brokerages have also recently weighed in on BHF. Wells Fargo & Company cut shares of Brighthouse Financial from an equal weight rating to an underweight rating and reduced their price target for the stock from $51.00 to $40.00 in a research report on Monday, August 12th. Piper Sandler decreased 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 report on Friday, June 28th. JPMorgan Chase & Co. lifted their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an underweight rating in a research report on Tuesday, July 2nd. Evercore ISI decreased their price objective on Brighthouse Financial from $56.00 to $52.00 and set an in-line rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lifted their target price on Brighthouse Financial from $59.00 to $63.00 and gave the stock a buy rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Brighthouse Financial presently has an average rating of Hold and a consensus target price of $50.00.

Brighthouse Financial Stock Up 3.1 %

BHF opened at $43.46 on Wednesday. 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. The firm has a 50-day simple moving average of $44.79 and a two-hundred day simple moving average of $46.77. The company has a market capitalization of $2.70 billion, a PE ratio of -2.28 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business posted $4.13 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts forecast that Brighthouse Financial will post 15.01 earnings per share for the current fiscal year.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the executive vice president now owns 96,262 shares in the company, valued at $4,428,052. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following the transaction, the chief financial officer now owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value 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 $4,428,052. The disclosure for this sale can be found here. Insiders sold a total of 19,250 shares of company stock worth $826,006 in the last quarter. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its stake in shares of Brighthouse Financial by 39.4% during 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 purchasing an additional 23,922 shares in the last quarter. Algebris UK Ltd purchased a new position in shares of Brighthouse Financial in the 1st quarter valued at $6,938,000. Campbell & CO Investment Adviser LLC raised its position in shares of Brighthouse Financial by 138.8% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 34,436 shares of the company’s stock worth $1,822,000 after acquiring an additional 20,015 shares in the last quarter. Seven Eight Capital LP lifted its stake in shares of Brighthouse Financial by 342.1% during the 1st quarter. Seven Eight Capital LP now owns 28,063 shares of the company’s stock worth $1,446,000 after purchasing an additional 21,716 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Brighthouse Financial during the first quarter valued at about $2,278,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

About Brighthouse Financial

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.