Brokerages Set Brighthouse Financial, Inc. (NASDAQ:BHF) PT at $60.30

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report) has been assigned an average recommendation of "Hold" from the nine research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $60.30.

BHF has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Brighthouse Financial from $76.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Morgan Stanley dropped their price objective on shares of Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating for the company in a research note on Monday, July 14th. Piper Sandler dropped their price objective on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. JPMorgan Chase & Co. increased their price objective on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company upped their target price on shares of Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th.

Brighthouse Financial Price Performance

Shares of BHF stock traded down $0.25 during midday trading on Wednesday, reaching $50.84. 736,807 shares of the company were exchanged, compared to its average volume of 638,434. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $64.12. The company has a market cap of $2.92 billion, a P/E ratio of 6.10 and a beta of 0.88. The company's 50 day moving average price is $56.27 and its two-hundred day moving average price is $55.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.55). Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts expect that Brighthouse Financial will post 20.32 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Vonda Huss sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $59.51, for a total value of $178,530.00. Following the completion of the sale, the executive vice president owned 18,441 shares in the company, valued at $1,097,423.91. The trade was a 13.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brighthouse Financial

Several hedge funds have recently made changes to their positions in BHF. Versant Capital Management Inc boosted its holdings in Brighthouse Financial by 188.0% in the first quarter. Versant Capital Management Inc now owns 622 shares of the company's stock worth $36,000 after acquiring an additional 406 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Brighthouse Financial by 42.0% during the first quarter. Brooklyn Investment Group now owns 764 shares of the company's stock valued at $44,000 after purchasing an additional 226 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock valued at $48,000 after purchasing an additional 735 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of Brighthouse Financial by 327.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock valued at $44,000 after purchasing an additional 703 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Brighthouse Financial by 101.7% during the first quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.

About Brighthouse Financial

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.