Brighthouse Financial (NASDAQ:BHF) Price Target Lowered to $65.00 at Barclays

Key Points

• Barclays has lowered the price target for Brighthouse Financial from $70.00 to $65.00 while maintaining an "overweight" rating, indicating a potential upside of 45.90% from current prices.
• Brighthouse Financial's recent quarterly earnings showed a miss with an EPS of $3.43, falling short of the consensus estimate of $4.70, and revenue declining 2.8% year-over-year.
• The stock currently has a consensus rating of "Hold" from analysts, with a consensus price target of $59.80, amidst various upgrades and downgrades from different brokerage firms.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) had its target price lowered by analysts at Barclays from $70.00 to $65.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 46.00% from the stock's current price.

BHF has been the subject of several other research reports. Piper Sandler lowered their price target on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Wells Fargo & Company boosted their price objective on shares of Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Morgan Stanley reduced 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. JPMorgan Chase & Co. boosted their price objective on shares of Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $60.67.

Brighthouse Financial Trading Down 3.4%

Brighthouse Financial stock traded down $1.55 during trading hours on Friday, hitting $44.52. The company had a trading volume of 1,257,147 shares, compared to its average volume of 958,450. The firm has a market cap of $2.56 billion, a P/E ratio of 4.82 and a beta of 0.88. 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 has a 1 year low of $40.00 and a 1 year high of $64.12. The company has a 50-day moving average price of $52.81 and a two-hundred day moving average price of $55.36.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $4.70 by ($1.27). Brighthouse Financial had a return on equity of 21.49% and a net margin of 10.24%. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the previous year, the company posted $5.57 EPS. Brighthouse Financial's revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Brighthouse Financial will post 20.32 earnings per share for the current year.

Insider Buying and Selling at Brighthouse Financial

In other news, EVP Vonda Huss sold 3,000 shares of the stock in a transaction 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 sale, the executive vice president owned 18,441 shares in the company, valued at $1,097,423.91. This represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Institutional Trading of Brighthouse Financial

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Brighthouse Financial by 188.0% during the first quarter. Versant Capital Management Inc now owns 622 shares of the company's stock worth $36,000 after buying an additional 406 shares in the last quarter. IFP Advisors Inc lifted its holdings in Brighthouse Financial by 1,900.0% during the second quarter. IFP Advisors Inc now owns 740 shares of the company's stock valued at $40,000 after purchasing an additional 703 shares in the last quarter. Brooklyn Investment Group lifted its holdings in 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 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. Finally, Ameriflex Group Inc. lifted its holdings in Brighthouse Financial by 12,371.4% during the second quarter. Ameriflex Group Inc. now owns 873 shares of the company's stock valued at $47,000 after purchasing an additional 866 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.