Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $70.00 at Keefe, Bruyette & Woods

Brighthouse Financial (NASDAQ:BHF) had its target price boosted by Keefe, Bruyette & Woods from $50.00 to $70.00 in a research report released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other brokerages have also weighed in on BHF. Wells Fargo & Company lifted their price objective on Brighthouse Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Barclays reduced their price objective on shares of Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Brighthouse Financial in a research report on Tuesday, October 14th. Evercore ISI reduced their price target on shares of Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Finally, Morgan Stanley set a $70.00 price target on Brighthouse Financial in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and a consensus price target of $63.70.

Brighthouse Financial Stock Performance

Brighthouse Financial stock traded up $0.31 during trading hours on Friday, reaching $66.01. 4,323,888 shares of the stock were exchanged, compared to its average volume of 1,959,115. The stock has a market cap of $3.77 billion, a P/E ratio of 4.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. Brighthouse Financial has a 52-week low of $42.07 and a 52-week high of $66.09. The firm’s 50 day moving average is $49.92 and its 200 day moving average is $52.19.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Thursday, November 6th. The company reported $4.54 earnings per share for the quarter, missing the consensus estimate of $5.09 by ($0.55). Brighthouse Financial had a net margin of 15.39% and a return on equity of 21.62%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $3.99 EPS. The firm’s revenue was down 10.0% on a year-over-year basis. Analysts predict that Brighthouse Financial will post 20.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Brighthouse Financial

Several hedge funds have recently bought and sold shares of BHF. Smartleaf Asset Management LLC lifted its position in shares of Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after acquiring an additional 226 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Brighthouse Financial by 225.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock valued at $35,000 after purchasing an additional 460 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Brighthouse Financial by 1,900.0% during the 2nd quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $40,000 after purchasing an additional 703 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Brighthouse Financial by 42.0% during the first quarter. Brooklyn Investment Group now owns 764 shares of the company’s stock worth $44,000 after buying an additional 226 shares in the last quarter. Finally, Ameriflex Group Inc. grew its holdings in shares of Brighthouse Financial by 12,371.4% during the second quarter. Ameriflex Group Inc. now owns 873 shares of the company’s stock worth $47,000 after buying an additional 866 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.