Brighthouse Financial (NASDAQ:BHF) PT Lowered to $56.00 at Evercore ISI

Brighthouse Financial (NASDAQ:BHF) had its target price lowered by Evercore ISI from $59.00 to $56.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price target on shares of Brighthouse Financial from $51.00 to $50.00 and set an equal weight rating on the stock in a report on Friday, May 10th. Piper Sandler reduced their price objective on shares of Brighthouse Financial from $55.00 to $50.00 and set a neutral rating for the company in a research report on Friday, May 10th. Finally, Keefe, Bruyette & Woods upgraded shares of Brighthouse Financial from an underperform rating to a market perform rating and reduced their price objective for the stock from $48.00 to $47.00 in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $50.63.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF opened at $43.25 on Wednesday. The company’s fifty day moving average price is $45.24 and its 200 day moving average price is $48.53. Brighthouse Financial has a 1 year low of $40.24 and a 1 year high of $56.24. The company has a market capitalization of $2.69 billion, a PE ratio of -2.27 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 0.83.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.29. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm posted $2.86 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that Brighthouse Financial will post 16.29 earnings per share for the current year.

Insider Activity

In other news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the sale, the chief financial officer now directly owns 44,765 shares in the company, valued at $1,876,101.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael J. Inserra acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $237,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total transaction of $298,608.75. Following the completion of the sale, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

A number of hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake in Brighthouse Financial by 412.3% during the fourth quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock worth $29,000 after buying an additional 437 shares during the period. Blue Trust Inc. boosted its stake in Brighthouse Financial by 123.2% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock worth $36,000 after buying an additional 404 shares during the period. GAMMA Investing LLC purchased a new position in Brighthouse Financial during the fourth quarter worth about $60,000. Quadrant Capital Group LLC boosted its stake in Brighthouse Financial by 36.1% during 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 during the period. Finally, Quent Capital LLC boosted its stake in Brighthouse Financial by 23.0% during the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after buying an additional 382 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.