Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $60.00 at Keefe, Bruyette & Woods

Brighthouse Financial (NASDAQ:BHF) had its price objective boosted by Keefe, Bruyette & Woods from $48.00 to $60.00 in a report released on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Other analysts have also issued research reports about the company. Piper Sandler reduced their target price on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Barclays upgraded shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $85.00 in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.63.

Brighthouse Financial Price Performance

BHF stock opened at $62.00 on Wednesday. The stock has a market cap of $3.68 billion, a PE ratio of -3.05 and a beta of 1.08. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $64.00. The company has a 50-day moving average price of $49.89 and a 200 day moving average price of $47.54. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same quarter last year, the firm earned $4.18 EPS. Equities research analysts anticipate that Brighthouse Financial will post 18.2 earnings per share for the current year.

Insider Activity

In other news, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the transaction, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. The trade was a 20.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its holdings in shares of Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after purchasing an additional 564 shares during the last quarter. UMB Bank n.a. increased its position in Brighthouse Financial by 974.1% during the 3rd quarter. UMB Bank n.a. now owns 623 shares of the company’s stock valued at $28,000 after buying an additional 565 shares in the last quarter. CWM LLC raised its stake in Brighthouse Financial by 29.4% in the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after buying an additional 339 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after acquiring an additional 855 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Brighthouse Financial by 30.2% during the third quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after acquiring an additional 464 shares during the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.