Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $76.00

Brighthouse Financial (NASDAQ:BHF) had its target price raised by Barclays from $75.00 to $76.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently commented on BHF. UBS Group set a $72.00 target price on Brighthouse Financial in a research report on Tuesday, March 18th. Jefferies Financial Group cut shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research note on Monday, February 3rd. Morgan Stanley reduced their price objective on shares of Brighthouse Financial from $52.00 to $41.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. Piper Sandler upped their target price on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on shares of Brighthouse Financial from $59.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Brighthouse Financial presently has a consensus rating of “Hold” and a consensus target price of $61.10.

Brighthouse Financial Stock Performance

NASDAQ:BHF opened at $58.74 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.92 and a current ratio of 0.93. The firm’s 50-day moving average is $54.60 and its 200-day moving average is $53.19. Brighthouse Financial has a 52-week low of $40.00 and a 52-week high of $64.12. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 11.38 and a beta of 0.96.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.79 by ($0.62). Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. During the same period in the prior year, the business earned $4.25 EPS. Brighthouse Financial’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Brighthouse Financial will post 20.32 earnings per share for the current year.

Institutional Investors Weigh In On Brighthouse Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of BHF. Versant Capital Management Inc boosted its stake in Brighthouse Financial by 188.0% in the first quarter. Versant Capital Management Inc now owns 622 shares of the company’s stock worth $36,000 after purchasing an additional 406 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in Brighthouse Financial by 327.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company’s stock valued at $44,000 after acquiring an additional 703 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Brighthouse Financial by 101.7% in the first quarter. UMB Bank n.a. now owns 1,200 shares of the company’s stock worth $70,000 after acquiring an additional 605 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of Brighthouse Financial in the fourth quarter worth about $94,000. Finally, GAMMA Investing LLC lifted its position in shares of Brighthouse Financial by 11.0% during the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company’s stock worth $118,000 after purchasing an additional 202 shares in the last quarter. 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.