Piper Sandler Has Lowered Expectations for Brighthouse Financial (NASDAQ:BHF) Stock Price

Brighthouse Financial (NASDAQ:BHF) had its price objective dropped by Piper Sandler from $55.00 to $52.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 11.52% from the stock’s current price.

A number of other equities analysts also recently issued reports on BHF. Wells Fargo & Company upped their price target on Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Barclays upped their target price on shares of Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Brighthouse Financial currently has an average rating of “Hold” and an average price target of $51.75.

Brighthouse Financial Price Performance

BHF stock opened at $46.63 on Wednesday. The business’s 50-day moving average is $49.68 and its two-hundred day moving average is $46.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $2.77 billion, a P/E ratio of -2.29 and a beta of 1.06. Brighthouse Financial has a 1 year low of $40.00 and a 1 year high of $54.73.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the company posted $4.18 earnings per share. Analysts anticipate that Brighthouse Financial will post 18.47 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Rosenthal sold 4,265 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $46.04, for a total value of $196,360.60. Following the transaction, the executive vice president now owns 86,262 shares of the company’s stock, valued at approximately $3,971,502.48. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the transaction, the executive vice president now owns 33,407 shares in the company, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

Several hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. raised its position in Brighthouse Financial by 75.9% in the second 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 in the last quarter. American Century Companies Inc. lifted its holdings in Brighthouse Financial by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock valued at $55,210,000 after purchasing an additional 228,814 shares in the last quarter. Millennium Management LLC boosted its position in Brighthouse Financial by 278.0% during the second quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after acquiring an additional 206,116 shares during the last quarter. Great Lakes Advisors LLC grew its position in shares of Brighthouse Financial by 3,362.1% in the second quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock valued at $6,854,000 after purchasing an additional 153,581 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake 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 last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

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.