Brighthouse Financial (NASDAQ:BHF) Stock Price Target Cut by Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut Brighthouse Financial’s price target from $67 to $57 while maintaining a “market perform” rating. The new target implies approximately 16.73% upside from the stock’s $48.83 price.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold,” with a consensus price target of $64.00.
• Brighthouse Financial missed quarterly expectations, reporting $4.45 in earnings per share versus the $4.86 consensus and revenue of $1.62 billion versus $2.18 billion expected. Institutional investors own 81.24% of the company’s shares.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) had its target price cut by analysts at Keefe, Bruyette & Woods from $67.00 to $57.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 16.73% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Brighthouse Financial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 10th. Wall Street Zen raised Brighthouse Financial to a "hold" rating in a report on Sunday, July 12th. Six analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $64.00.

Brighthouse Financial Stock Down 0.3%

Shares of NASDAQ BHF traded down $0.16 during trading on Friday, hitting $48.83. The stock had a trading volume of 279,308 shares, compared to its average volume of 727,916. The firm has a fifty day moving average of $53.69 and a two-hundred day moving average of $59.44. The company has a market capitalization of $2.81 billion, a PE ratio of 3.90, a PEG ratio of 0.66 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. Brighthouse Financial has a 12 month low of $44.51 and a 12 month high of $66.80.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share for the quarter, missing the consensus estimate of $4.86 by ($0.41). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The firm had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the firm posted $3.43 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Brighthouse Financial will post 18.91 EPS for the current fiscal year.

Institutional Trading of Brighthouse Financial

Several hedge funds have recently added to or reduced their stakes in BHF. BlackRock Inc. purchased a new stake in shares of Brighthouse Financial during the 2nd quarter worth approximately $341,422,000. Dimensional Fund Advisors LP grew its holdings in Brighthouse Financial by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,555,823 shares of the company's stock valued at $212,926,000 after purchasing an additional 60,791 shares during the period. Hsbc Holdings PLC bought a new position in Brighthouse Financial during the second quarter valued at $54,895,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Brighthouse Financial by 64.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 642,800 shares of the company's stock worth $38,491,000 after buying an additional 251,993 shares during the last quarter. Finally, Kryger Capital LLC purchased a new stake in Brighthouse Financial in the first quarter worth $30,104,000. Institutional investors own 81.24% of the company's stock.

About Brighthouse Financial

Brighthouse Financial, Inc NASDAQ: BHF is a U.S.-based insurance holding company that provides annuities and life insurance products designed to help individuals and families address retirement income, financial protection and legacy-planning needs. The company primarily serves retail customers through independent distribution partners, including financial professionals and insurance agencies.

Brighthouse Financial's offerings include fixed, variable and index-linked annuities, as well as life insurance products such as term life, universal life and variable universal life insurance.

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