JPMorgan Chase & Co. Cuts Brighthouse Financial (NASDAQ:BHF) Price Target to $56.00

Brighthouse Financial (NASDAQ:BHF) had its price target cut by research analysts at JPMorgan Chase & Co. from $59.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 17.28% from the company’s previous close.

A number of other research firms have also commented on BHF. Barclays lifted their target price on Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Wells Fargo & Company upped their price objective on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler decreased their target price on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Brighthouse Financial presently has a consensus rating of “Hold” and a consensus price target of $51.38.

Brighthouse Financial Trading Down 1.0 %

Shares of BHF stock opened at $47.75 on Tuesday. Brighthouse Financial has a 1-year low of $40.00 and a 1-year high of $54.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day moving average of $49.70 and a 200 day moving average of $46.85. The stock has a market capitalization of $2.83 billion, a PE ratio of -2.35 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.50 by ($0.51). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company posted $4.18 EPS. As a group, sell-side analysts anticipate that Brighthouse Financial will post 18.47 earnings per share for the current year.

Insider Activity

In other Brighthouse Financial news, EVP John Rosenthal sold 4,265 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Myles Lambert sold 8,400 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the sale, the executive vice president now directly owns 33,407 shares in the company, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its holdings in shares of Brighthouse Financial by 0.9% during the 3rd quarter. US Bancorp DE now owns 35,755 shares of the company’s stock valued at $1,610,000 after purchasing an additional 319 shares during the last quarter. CWM LLC boosted its holdings in Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after buying an additional 339 shares during the last quarter. Creative Planning boosted its holdings in Brighthouse Financial by 5.7% in the 3rd quarter. Creative Planning now owns 7,843 shares of the company’s stock worth $353,000 after buying an additional 420 shares during the last quarter. KBC Group NV boosted its holdings in Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after buying an additional 464 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Brighthouse Financial by 989.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after purchasing an additional 564 shares in the last quarter. 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.