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

Brighthouse Financial (NASDAQ:BHF) had its price objective raised by Piper Sandler from $52.00 to $60.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on BHF. JPMorgan Chase & Co. cut their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group cut shares of Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price objective on shares of Brighthouse Financial from $48.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Finally, Barclays raised shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $85.00 in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.75.

Brighthouse Financial Trading Up 5.8 %

Shares of BHF opened at $62.14 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. The stock has a market cap of $3.69 billion, a PE ratio of -3.06 and a beta of 1.10. The stock has a 50 day simple moving average of $51.84 and a 200-day simple moving average of $48.47. Brighthouse Financial has a 1 year low of $40.00 and a 1 year high of $64.00.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $5.88 EPS for the quarter, beating analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. On average, sell-side analysts predict that Brighthouse Financial will post 18.2 EPS for the current fiscal year.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Rosenthal sold 10,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the sale, the executive vice president now owns 66,262 shares of the company’s stock, valued at approximately $4,041,982. This trade represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Brighthouse Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHF. Venturi Wealth Management LLC increased its stake in shares of Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after purchasing an additional 564 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of Brighthouse Financial by 327.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company’s stock worth $44,000 after purchasing an additional 703 shares during the period. CWM LLC raised its holdings in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after purchasing an additional 339 shares during the period. KBC Group NV raised its holdings in shares of Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after purchasing an additional 464 shares during the period. Finally, nVerses Capital LLC raised its holdings in shares of Brighthouse Financial by 24.0% in the 3rd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock worth $140,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.