Brighthouse Financial (NASDAQ:BHF – Free Report) had its price objective upped by Wells Fargo & Company from $40.00 to $41.00 in a report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.
Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their target price on Brighthouse Financial from $47.00 to $43.00 and set a market perform rating for the company in a research note on Wednesday, August 14th. Piper Sandler upped their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the company a neutral rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an underweight rating in a report on Tuesday, July 2nd. Finally, Barclays assumed coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They set an equal weight rating and a $48.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $50.63.
Get Our Latest Stock Analysis on Brighthouse Financial
Brighthouse Financial Price Performance
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $1.21. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.13 earnings per share. Research analysts expect that Brighthouse Financial will post 18.52 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the transaction, the chief executive officer now owns 321,072 shares of the company’s stock, valued at approximately $14,663,358.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Eric T. Steigerwalt sold 25,000 shares of the company’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 completion of the sale, the chief executive officer now owns 321,072 shares of the company’s stock, valued at $14,663,358.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.74, for a total value of $297,397.50. Following the sale, the chief financial officer now owns 37,640 shares in the company, valued at approximately $1,571,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,125 shares of company stock worth $1,665,248 over the last ninety days. 1.40% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Brighthouse Financial by 974.1% during the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after acquiring an additional 565 shares during the last quarter. CWM LLC grew its stake in Brighthouse Financial by 29.4% during the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after purchasing an additional 339 shares in the last quarter. GAMMA Investing LLC increased its holdings in Brighthouse Financial by 97.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after purchasing an additional 855 shares during the last quarter. Quarry LP acquired a new position in shares of Brighthouse Financial in the 2nd quarter valued at approximately $89,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Brighthouse Financial during the 1st quarter valued at approximately $110,000. 81.24% of the stock is owned by institutional investors and hedge funds.
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.
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