Brokerages Set Brighthouse Financial, Inc. (NASDAQ:BHF) PT at $60.50

Shares of Brighthouse Financial, Inc. (NASDAQ:BHF) have been given a consensus rating of “Reduce” by the ten ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $60.50.

Several brokerages have commented on BHF. Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Finally, Weiss Ratings cut Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Institutional Investors Weigh In On Brighthouse Financial

A number of hedge funds have recently made changes to their positions in BHF. NewEdge Advisors LLC lifted its stake in Brighthouse Financial by 442.5% in the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after purchasing an additional 354 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Brighthouse Financial by 390.3% in the 1st quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after acquiring an additional 226 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Brighthouse Financial during the 3rd quarter valued at $37,000. Finally, Torren Management LLC bought a new stake in Brighthouse Financial during the 4th quarter worth $50,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Price Performance

BHF stock opened at $63.75 on Friday. The company’s 50-day moving average price is $63.57 and its two-hundred day moving average price is $62.57. The firm has a market cap of $3.66 billion, a P/E ratio of -21.39 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. Brighthouse Financial has a 12 month low of $42.07 and a 12 month high of $66.80.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.20 billion. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The business’s revenue was down 29.4% on a year-over-year basis. During the same period last year, the company posted $4.17 EPS. On average, analysts anticipate that Brighthouse Financial will post 19.2 earnings per share for the current fiscal year.

About Brighthouse Financial

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.