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

Brighthouse Financial (NASDAQ:BHF) had its target price boosted by Piper Sandler from $44.00 to $47.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 6.94% from the stock’s previous close.

BHF has been the topic of a number of other reports. Keefe, Bruyette & Woods reduced their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. Evercore ISI reduced their price target on shares of 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. Barclays started coverage on 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. Wells Fargo & Company downgraded Brighthouse Financial from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $51.00 to $40.00 in a research report on Monday, August 12th. Finally, Jefferies Financial Group increased their price target on Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Three equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.50.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $43.95 on Wednesday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -2.31 and a beta of 1.06. Brighthouse Financial has a 52 week low of $40.00 and a 52 week high of $56.24. The firm has a 50-day simple moving average of $44.45 and a 200-day simple moving average of $45.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.75.

Brighthouse Financial (NASDAQ:BHF) last released its 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. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $4.13 EPS. On average, equities analysts predict that Brighthouse Financial will post 18.16 earnings per share for the current fiscal year.

Insider Activity at Brighthouse Financial

In related news, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.74, for a total value of $297,397.50. Following the completion of the transaction, the chief financial officer now owns 37,640 shares in the company, valued at $1,571,093.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Edward A. Spehar sold 7,125 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Rosenthal sold 5,000 shares of the company’s stock in a transaction dated 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 approximately $4,428,052. The disclosure for this sale can be found here. Insiders sold 42,125 shares of company stock worth $1,895,248 in the last three months. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brighthouse Financial

A number of large investors have recently modified their holdings of BHF. D. E. Shaw & Co. Inc. lifted its holdings in Brighthouse Financial by 75.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after buying an additional 269,062 shares during the last quarter. American Century Companies Inc. raised its position in shares of Brighthouse Financial by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after acquiring an additional 228,814 shares in the last quarter. Millennium Management LLC lifted its stake in Brighthouse Financial by 278.0% during the second quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after purchasing an additional 206,116 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in Brighthouse Financial by 3,362.1% in the second quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock valued at $6,854,000 after purchasing an additional 153,581 shares in the last quarter. Finally, Algebris UK Ltd purchased a new position in Brighthouse Financial in the first quarter valued at approximately $6,938,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.