Brokerages Set Brighthouse Financial, Inc. (NASDAQ:BHF) Price Target at $50.63

Brighthouse Financial, Inc. (NASDAQ:BHF) has received an average rating of “Reduce” from the eight ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.63.

Several analysts have recently commented on the stock. Evercore ISI reduced 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 research report on Thursday, August 8th. Jefferies Financial Group raised their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods cut their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Piper Sandler raised their target price on Brighthouse Financial from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd.

Brighthouse Financial Trading Up 0.5 %

NASDAQ:BHF opened at $49.15 on Monday. Brighthouse Financial has a 52 week low of $40.00 and a 52 week high of $56.24. The firm’s fifty day moving average is $44.34 and its 200-day moving average is $45.45. The firm has a market cap of $3.05 billion, a P/E ratio of -2.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the business posted $4.13 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Equities analysts expect that Brighthouse Financial will post 18.52 earnings per share for the current year.

Insider Buying and Selling

In other Brighthouse Financial news, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following the completion of the transaction, the executive vice president now owns 86,262 shares in the company, valued at approximately $3,971,502.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the completion of the sale, the chief executive officer now owns 321,072 shares in the company, valued at $14,663,358.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the transaction, the executive vice president now directly owns 86,262 shares in the company, valued at $3,971,502.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,390 shares of company stock worth $1,861,608 in the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of Brighthouse Financial by 21.9% in the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock valued at $55,210,000 after acquiring an additional 228,814 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Brighthouse Financial by 75.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after purchasing an additional 269,062 shares during the last quarter. Private Management Group Inc. grew its stake in Brighthouse Financial by 1.9% in the 1st quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock valued at $17,559,000 after purchasing an additional 6,496 shares during the period. Millennium Management LLC increased its position in shares of Brighthouse Financial by 278.0% during the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock valued at $12,147,000 after purchasing an additional 206,116 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Brighthouse Financial by 139.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after purchasing an additional 144,102 shares during the period. 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.