Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $59.00

Brighthouse Financial (NASDAQ:BHFFree Report) had its price target increased by JPMorgan Chase & Co. from $58.00 to $59.00 in a research report sent to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other research firms have also recently commented on BHF. Jefferies Financial Group lifted their target price on shares of Brighthouse Financial from $46.00 to $49.00 and gave the stock a hold rating in a research note on Friday, June 28th. Evercore ISI dropped their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an in-line rating on the stock in a report on Wednesday, June 26th. Keefe, Bruyette & Woods raised Brighthouse Financial from an underperform rating to a market perform rating and cut their target price for the company from $48.00 to $47.00 in a research report on Monday, June 17th. Piper Sandler lowered their price target on Brighthouse Financial from $50.00 to $45.00 and set a neutral rating for the company in a research report on Friday, June 28th. Finally, Wells Fargo & Company cut their price objective on Brighthouse Financial from $51.00 to $50.00 and set an equal weight rating on the stock in a report on Friday, May 10th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $50.44.

Check Out Our Latest Stock Report on BHF

Brighthouse Financial Stock Performance

Shares of BHF opened at $43.95 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2.73 billion, a PE ratio of -2.31 and a beta of 1.09. Brighthouse Financial has a 12 month low of $40.24 and a 12 month high of $56.24. The stock has a fifty day moving average price of $44.57 and a 200-day moving average price of $48.15.

Brighthouse Financial (NASDAQ:BHFGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.29. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $2.86 earnings per share. Equities research analysts predict that Brighthouse Financial will post 16.16 earnings per share for the current fiscal year.

Insider Activity

In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the sale, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Inserra bought 2,500 shares of the stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $43.20 per share, for a total transaction of $108,000.00. Following the completion of the purchase, the director now owns 5,500 shares in the company, valued at $237,600. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

Several institutional investors have recently bought and sold shares of BHF. Lindbrook Capital LLC raised its position in shares of Brighthouse Financial by 412.3% during the 4th quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock worth $29,000 after purchasing an additional 437 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Brighthouse Financial by 123.2% in the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock valued at $36,000 after acquiring an additional 404 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $60,000 after acquiring an additional 303 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Brighthouse Financial during the fourth quarter worth approximately $60,000. Finally, Quent Capital LLC increased its position in shares of Brighthouse Financial by 23.0% during the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after purchasing an additional 382 shares in the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

About Brighthouse Financial

(Get Free Report)

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.

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