Piper Sandler Has Lowered Expectations for Brighthouse Financial (NASDAQ:BHF) Stock Price

Brighthouse Financial (NASDAQ:BHF) had its target price reduced by analysts at Piper Sandler from $63.00 to $55.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 4.74% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company dropped their price objective 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. Morgan Stanley lifted their price target on shares of Brighthouse Financial from $41.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, May 19th. Wall Street Zen cut shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. UBS Group set a $72.00 price target on shares of Brighthouse Financial in a research note on Tuesday, March 18th. Finally, Raymond James Financial raised shares of Brighthouse Financial from a “market perform” rating to a “strong-buy” rating and set a $72.00 price target for the company in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, six have assigned 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, the company currently has an average rating of “Hold” and an average price target of $60.30.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF opened at $52.51 on Thursday. 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 $3.01 billion, a P/E ratio of 6.30 and a beta of 0.88. The firm’s fifty day moving average is $57.71 and its two-hundred day moving average is $55.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.55). Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the business earned $4.25 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Brighthouse Financial will post 20.32 EPS for the current fiscal year.

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $59.51, for a total value of $178,530.00. Following the completion of the sale, the executive vice president directly owned 18,441 shares of the company’s stock, valued at $1,097,423.91. The trade was a 13.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brighthouse Financial

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Brighthouse Financial by 188.0% in the 1st quarter. Versant Capital Management Inc now owns 622 shares of the company’s stock valued at $36,000 after buying an additional 406 shares during the period. Aster Capital Management DIFC Ltd boosted 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 buying an additional 703 shares during the period. Brooklyn Investment Group boosted its position in Brighthouse Financial by 42.0% in the 1st quarter. Brooklyn Investment Group now owns 764 shares of the company’s stock valued at $44,000 after buying an additional 226 shares during the period. Jones Financial Companies Lllp boosted its position in Brighthouse Financial by 835.2% in the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after buying an additional 735 shares during the period. Finally, UMB Bank n.a. boosted its position in Brighthouse Financial by 101.7% in the 1st quarter. UMB Bank n.a. now owns 1,200 shares of the company’s stock valued at $70,000 after buying an additional 605 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.