Brighthouse Financial, Inc. (NASDAQ:BHF) Receives $50.63 Consensus Target Price from Brokerages

Brighthouse Financial, Inc. (NASDAQ:BHF) has been assigned a consensus rating of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $50.63.

Several research analysts have issued reports on BHF shares. Piper Sandler raised their target price on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Evercore ISI cut their target price 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. Keefe, Bruyette & Woods reduced their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on shares of Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. Finally, Barclays assumed coverage on Brighthouse Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price objective for the company.

Brighthouse Financial Stock Up 0.7 %

Shares of Brighthouse Financial stock opened at $51.22 on Tuesday. The company has a 50-day simple moving average of $48.74 and a two-hundred day simple moving average of $45.88. The stock has a market capitalization of $3.04 billion, a PE ratio of -2.50 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 company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same period last year, the business earned $4.18 earnings per share. On average, analysts anticipate that Brighthouse Financial will post 18.47 EPS for the current fiscal year.

Insider Activity

In other news, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the transaction, the executive vice president now directly owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. This represents a 20.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Rosenthal sold 4,265 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the completion of the sale, the executive vice president now owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Brighthouse Financial by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,823 shares of the company’s stock worth $1,744,000 after acquiring an additional 1,804 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Brighthouse Financial by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,745 shares of the company’s stock valued at $899,000 after buying an additional 2,076 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Brighthouse Financial in the 2nd quarter valued at about $388,000. Assenagon Asset Management S.A. purchased a new stake in shares of Brighthouse Financial in the second quarter worth about $3,439,000. Finally, Ingalls & Snyder LLC grew its holdings in Brighthouse Financial by 63.0% during the second quarter. Ingalls & Snyder LLC now owns 24,453 shares of the company’s stock worth $1,060,000 after acquiring an additional 9,450 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.