Brokerages Set Brighthouse Financial, Inc. (NASDAQ:BHF) Target Price at $49.44

Shares of Brighthouse Financial, Inc. (NASDAQ:BHF) have been given an average recommendation of “Reduce” by the eight analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $50.25.

A number of brokerages recently issued reports on BHF. Keefe, Bruyette & Woods lowered their price target on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. Barclays began coverage on Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price objective for the company. Jefferies Financial Group increased their target price on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Piper Sandler reduced their price target on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, June 28th.

Insider Activity

In related news, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 96,262 shares in the company, valued at approximately $4,428,052. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the 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 completion of the sale, the executive vice president now directly owns 96,262 shares in the company, valued at $4,428,052. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the sale, the chief executive officer now owns 321,072 shares in the company, valued at approximately $14,663,358.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,125 shares of company stock worth $1,895,248. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHF. State Board of Administration of Florida Retirement System boosted its holdings in shares of Brighthouse Financial by 39.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company’s stock valued at $4,359,000 after acquiring an additional 23,922 shares during the last quarter. Algebris UK Ltd purchased a new stake in Brighthouse Financial in the first quarter valued at $6,938,000. Campbell & CO Investment Adviser LLC grew its position in Brighthouse Financial by 138.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 34,436 shares of the company’s stock worth $1,822,000 after purchasing an additional 20,015 shares during the period. Seven Eight Capital LP raised its stake in shares of Brighthouse Financial by 342.1% during the 1st quarter. Seven Eight Capital LP now owns 28,063 shares of the company’s stock valued at $1,446,000 after buying an additional 21,716 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Brighthouse Financial in the 1st quarter valued at about $2,278,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Trading Up 0.5 %

Shares of BHF stock opened at $43.71 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -2.30 and a beta of 1.06. Brighthouse Financial has a 12-month low of $40.00 and a 12-month high of $56.24. The stock’s 50-day moving average price is $44.75 and its 200-day moving average price is $45.82.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $1.21. The company had revenue of $2.21 billion during 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 firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $4.13 EPS. Equities research analysts predict that Brighthouse Financial will post 18.16 EPS for the current fiscal year.

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.