Brighthouse Financial (NASDAQ:BHF) Upgraded to "Neutral" at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Brighthouse Financial from “underweight” to “neutral” and set a $55 price target, implying approximately 15% upside from the prior close.
• Analyst sentiment remains broadly cautious: seven analysts rate the stock “Hold,” with an average rating of “Hold” and a consensus price target of $61.25.
• Brighthouse reported quarterly earnings of $4.45 per share, below the $4.86 consensus estimate, while revenue of $1.62 billion also missed expectations.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm presently has a $55.00 price target on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 15.06% from the company's previous close.

A number of other equities analysts also recently commented on BHF. Weiss Ratings downgraded shares of Brighthouse Financial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Brighthouse Financial from $57.00 to $55.00 and set a "market perform" rating on the stock in a research report on Thursday. Finally, Wall Street Zen upgraded Brighthouse Financial to a "hold" rating in a report on Sunday, July 12th. Seven investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $61.25.

Brighthouse Financial Stock Performance

Shares of BHF opened at $47.80 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2.75 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 0.63 and a beta of 0.83. The company's 50 day simple moving average is $52.58 and its 200-day simple moving average is $59.10. 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 announced its earnings results on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the firm earned $3.43 earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that Brighthouse Financial will post 18.91 EPS for the current year.

Institutional Investors Weigh In On Brighthouse Financial

Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. increased its stake in shares of Brighthouse Financial by 8,900.0% in the third quarter. Mather Group LLC. now owns 630 shares of the company's stock worth $31,000 after buying an additional 623 shares during the last quarter. Byrne Asset Management LLC bought a new position in Brighthouse Financial during the 3rd quarter valued at $235,000. QRG Capital Management Inc. grew its holdings in Brighthouse Financial by 15.5% during the 2nd quarter. QRG Capital Management Inc. now owns 3,967 shares of the company's stock worth $251,000 after acquiring an additional 532 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Brighthouse Financial by 41.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,241 shares of the company's stock worth $458,000 after acquiring an additional 2,106 shares in the last quarter. Finally, Maven Securities LTD acquired a new position in Brighthouse Financial during the 2nd quarter worth $1,914,000. 81.24% of the stock is owned by institutional investors and hedge funds.

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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