Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $60.00

Brighthouse Financial (NASDAQ:BHF) had its target price boosted by Keefe, Bruyette & Woods from $48.00 to $60.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other research firms also recently issued reports on BHF. Wells Fargo & Company decreased their target price on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler reduced their price target on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, Barclays upgraded Brighthouse Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $85.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.63.

Brighthouse Financial Stock Up 6.3 %

Brighthouse Financial stock opened at $62.00 on Wednesday. Brighthouse Financial has a fifty-two week low of $40.00 and a fifty-two week high of $64.00. The company has a market cap of $3.68 billion, a PE ratio of -3.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50-day simple moving average is $49.89 and its two-hundred day simple moving average is $47.54.

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

Insider Buying and Selling at Brighthouse Financial

In other news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the transaction, the executive vice president now owns 33,407 shares in the company, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brighthouse Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHF. State Street Corp lifted its holdings in Brighthouse Financial by 2.2% during the third quarter. State Street Corp now owns 2,314,905 shares of the company’s stock valued at $104,240,000 after purchasing an additional 50,441 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Brighthouse Financial by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company’s stock worth $49,160,000 after purchasing an additional 8,004 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Brighthouse Financial by 12.6% in the 3rd quarter. Two Sigma Advisers LP now owns 320,700 shares of the company’s stock valued at $14,441,000 after buying an additional 35,800 shares in the last quarter. Millennium Management LLC boosted its holdings in Brighthouse Financial by 278.0% in the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after buying an additional 206,116 shares during the last quarter. Finally, Algert Global LLC increased its stake in Brighthouse Financial by 9.3% during the 3rd quarter. Algert Global LLC now owns 222,504 shares of the company’s stock worth $10,019,000 after buying an additional 19,022 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.