Keefe, Bruyette & Woods Issues Positive Forecast for Brighthouse Financial (NASDAQ:BHF) Stock Price

Brighthouse Financial (NASDAQ:BHFGet Free Report) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $48.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 2.06% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Barclays raised Brighthouse Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $85.00 in a research report on Wednesday. Wells Fargo & Company dropped their price objective on Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Piper Sandler reduced their target price on shares of Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $57.63.

Get Our Latest Research Report on Brighthouse Financial

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $61.26 on Wednesday. Brighthouse Financial has a twelve month low of $40.00 and a twelve month high of $64.00. The stock’s 50 day moving average is $50.10 and its 200-day moving average is $47.63. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -3.01 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHFGet Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm posted $4.18 EPS. Sell-side analysts forecast that Brighthouse Financial will post 18.2 EPS for the current fiscal year.

Insider Activity

In other news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the transaction, the executive vice president now directly owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This represents a 20.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Brighthouse Financial by 2.2% in the third quarter. State Street Corp now owns 2,314,905 shares of the company’s stock valued at $104,240,000 after buying an additional 50,441 shares during the period. Range Financial Group LLC purchased a new stake in Brighthouse Financial in the 4th quarter worth about $826,000. GSA Capital Partners LLP bought a new stake in Brighthouse Financial in the 3rd quarter valued at about $1,311,000. Assenagon Asset Management S.A. lifted its holdings in Brighthouse Financial by 102.1% during the third quarter. Assenagon Asset Management S.A. now owns 160,399 shares of the company’s stock valued at $7,223,000 after purchasing an additional 81,040 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Brighthouse Financial by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company’s stock valued at $49,160,000 after purchasing an additional 8,004 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Brighthouse Financial (NASDAQ:BHF)

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