Brighthouse Financial (NASDAQ:BHF – Free Report) had its target price upped by Barclays from $48.00 to $52.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.
A number of other research analysts have also weighed in on the stock. Wells Fargo & Company raised their target price on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Piper Sandler boosted their target price on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.13.
Check Out Our Latest Stock Report on BHF
Brighthouse Financial Price Performance
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last issued 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 the consensus estimate 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 period last year, the business posted $4.18 EPS. Research analysts expect that Brighthouse Financial will post 18.47 EPS for the current fiscal year.
Insider Buying and Selling
In related news, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 33,407 shares in the company, valued at $1,727,141.90. This represents a 20.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following the completion of the transaction, the executive vice president now directly owns 86,262 shares in the company, valued at approximately $3,971,502.48. The trade was a 4.71 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Hedge Funds Weigh In On Brighthouse Financial
Several hedge funds and other institutional investors have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. lifted its position in Brighthouse Financial by 75.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after acquiring an additional 269,062 shares during the period. American Century Companies Inc. lifted its holdings in shares of Brighthouse Financial by 21.9% during the second quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after purchasing an additional 228,814 shares during the period. Millennium Management LLC boosted its position in Brighthouse Financial by 278.0% in the second quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock valued at $12,147,000 after buying an additional 206,116 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in Brighthouse Financial by 3,362.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock worth $6,854,000 after buying an additional 153,581 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Brighthouse Financial by 139.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after buying an additional 144,102 shares during the period. 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.
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