Brighthouse Financial (NASDAQ:BHF - Get Free Report) had its price target reduced by research analysts at Piper Sandler from $63.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price suggests a potential upside of 4.74% from the company's current price.
A number of other equities research analysts have also commented on the company. Raymond James Financial upgraded Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price target on the stock in a research report on Tuesday, March 18th. Barclays upped their price objective on shares of Brighthouse Financial from $75.00 to $76.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. UBS Group set a $72.00 target price on Brighthouse Financial in a report on Tuesday, March 18th. Wall Street Zen cut Brighthouse Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Morgan Stanley raised their price objective on Brighthouse Financial from $41.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $60.30.
Get Our Latest Stock Analysis on Brighthouse Financial
Brighthouse Financial Stock Down 2.4%
Shares of Brighthouse Financial stock traded down $1.27 during midday trading on Thursday, hitting $52.51. The company's stock had a trading volume of 750,620 shares, compared to its average volume of 618,916. The firm has a market capitalization of $3.01 billion, a P/E ratio of 6.30 and a beta of 0.88. The stock has a 50-day simple moving average of $57.71 and a 200-day simple moving average of $55.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. Brighthouse Financial has a 1-year low of $40.00 and a 1-year high of $64.12.
Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $4.17 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.55). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.29 billion. Brighthouse Financial had a return on equity of 25.60% and a net margin of 8.71%. Brighthouse Financial's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.25 EPS. As a group, sell-side analysts expect that Brighthouse Financial will post 20.32 earnings per share for the current year.
Insider Transactions at Brighthouse Financial
In related news, EVP Vonda Huss sold 3,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total value of $178,530.00. Following the transaction, the executive vice president directly owned 18,441 shares of the company's stock, valued at $1,097,423.91. This trade represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by company insiders.
Institutional Trading of Brighthouse Financial
Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Brighthouse Financial by 7.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,895 shares of the company's stock worth $9,411,000 after buying an additional 14,316 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Brighthouse Financial by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 525,388 shares of the company's stock worth $25,240,000 after buying an additional 9,500 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Brighthouse Financial during the fourth quarter worth $384,000. Ameriprise Financial Inc. grew its stake in shares of Brighthouse Financial by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 74,877 shares of the company's stock worth $3,597,000 after buying an additional 491 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Brighthouse Financial by 41.5% during the fourth quarter. Alliancebernstein L.P. now owns 114,984 shares of the company's stock worth $5,524,000 after purchasing an additional 33,716 shares during the period. Institutional investors own 81.24% of the company's stock.
About Brighthouse Financial
(
Get Free Report)
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.
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