Analysts Set Brighthouse Financial, Inc. (NASDAQ:BHF) PT at $60.67

Brighthouse Financial, Inc. (NASDAQ:BHF) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $59.6667.

Several brokerages have commented on BHF. Keefe, Bruyette & Woods cut their price target on shares of Brighthouse Financial from $57.00 to $50.00 and set a “market perform” rating for the company in a report on Monday. Wall Street Zen downgraded shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Piper Sandler cut their price target on shares of Brighthouse Financial from $63.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, July 3rd. Wells Fargo & Company raised their price target on shares of Brighthouse Financial from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Finally, Barclays cut their price target on shares of Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 8th.

Insider Activity at Brighthouse Financial

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

Hedge Funds Weigh In On Brighthouse Financial

Institutional investors have recently made changes to their positions in the stock. J.W. Cole Advisors Inc. bought a new position in shares of Brighthouse Financial during the 2nd quarter valued at $725,000. Elo Mutual Pension Insurance Co bought a new position in shares of Brighthouse Financial during the 2nd quarter valued at $584,000. Jefferies Financial Group Inc. grew its holdings in shares of Brighthouse Financial by 132.1% during the 2nd quarter. Jefferies Financial Group Inc. now owns 132,066 shares of the company’s stock valued at $7,101,000 after purchasing an additional 75,165 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Brighthouse Financial by 12.5% during the 2nd quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock valued at $350,000 after purchasing an additional 725 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Brighthouse Financial by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 2,001,646 shares of the company’s stock valued at $107,629,000 after purchasing an additional 163,626 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Stock Performance

Shares of BHF stock opened at $46.14 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 4.99 and a beta of 0.88. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $52.28 and its 200 day moving average is $55.29. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $64.12.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($1.27). The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.57 earnings per share. On average, sell-side analysts anticipate that Brighthouse Financial will post 20.32 earnings per share for the current 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.