Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $47.00

Brighthouse Financial (NASDAQ:BHF) had its target price increased by Piper Sandler from $44.00 to $47.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently issued reports on BHF. Wells Fargo & Company cut shares of Brighthouse Financial from an equal weight rating to an underweight rating and lowered their target price for the company from $51.00 to $40.00 in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on Brighthouse Financial from $58.00 to $59.00 and gave the company an underweight rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods decreased their price target on 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. Barclays began coverage on shares of Brighthouse Financial in a research report on Wednesday, September 4th. They issued an equal weight rating and a $48.00 price objective for the company. Finally, 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 report on Monday, July 29th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brighthouse Financial presently has a consensus rating of Hold and a consensus price target of $50.50.

Brighthouse Financial Trading Up 4.0 %

Shares of BHF opened at $45.69 on Wednesday. The firm has a market cap of $2.84 billion, a P/E ratio of -2.40 and a beta of 1.06. Brighthouse Financial has a fifty-two week low of $40.00 and a fifty-two week high of $56.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50-day moving average of $44.30 and a 200 day moving average of $45.71.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping the consensus estimate of $4.36 by $1.21. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $4.13 earnings per share. As a group, research analysts forecast that Brighthouse Financial will post 18.16 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 96,262 shares in the company, valued at approximately $4,428,052. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP John Rosenthal sold 5,000 shares of Brighthouse Financial stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 96,262 shares in the company, valued at $4,428,052. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.74, for a total transaction of $297,397.50. Following the sale, the chief financial officer now owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,125 shares of company stock valued at $1,895,248 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brighthouse Financial

A number of large investors have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Brighthouse Financial in the second quarter worth approximately $89,000. EntryPoint Capital LLC bought a new stake in shares of Brighthouse Financial in the 1st quarter worth approximately $110,000. Central Pacific Bank Trust Division purchased a new stake in Brighthouse Financial in the first quarter worth $169,000. EMC Capital Management boosted its holdings in Brighthouse Financial by 216.0% in the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after acquiring an additional 2,581 shares in the last quarter. Finally, Privium Fund Management B.V. increased its position in Brighthouse Financial by 16.9% during the 1st quarter. Privium Fund Management B.V. now owns 5,712 shares of the company’s stock valued at $294,000 after purchasing an additional 825 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.