Brighthouse Financial (NASDAQ:BHF) Sees Large Volume Increase - Still a Buy?

Key Points

• Brighthouse Financial shares experienced a significant increase in trading volume, with approximately 1.9 million shares traded, marking a 109% rise from the previous session.
• Equities analysts have lowered their ratings and price targets for Brighthouse Financial, with most analysts currently giving the stock a consensus rating of "Hold" and a target price of $59.67.
• The company's recent quarterly earnings showed a miss on EPS estimates, reporting $3.43 compared to a consensus estimate of $4.70, alongside a 2.8% decline in revenue year-over-year.

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,898,063 shares traded hands during mid-day trading, an increase of 109% from the previous session's volume of 907,471 shares.The stock last traded at $55.99 and had previously closed at $57.59.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BHF shares. Wall Street Zen lowered Brighthouse Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Piper Sandler reduced their price target on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods reduced their price target on Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating for the company in a research report on Monday, August 11th. JPMorgan Chase & Co. upped their price target on Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price target on Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.67.

Brighthouse Financial Trading Down 4.2%

The company has a market cap of $3.15 billion, a price-to-earnings ratio of 5.97 and a beta of 0.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a fifty day moving average price of $47.47 and a 200 day moving average price of $52.85.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $4.70 by ($1.27). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.57 EPS. As a group, equities analysts predict that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Brighthouse Financial

A number of large investors have recently added to or reduced their stakes in BHF. Norges Bank bought a new stake in Brighthouse Financial in the 2nd quarter valued at $41,182,000. First Trust Advisors LP raised its stake in Brighthouse Financial by 2,224.3% in the 2nd quarter. First Trust Advisors LP now owns 514,080 shares of the company's stock valued at $27,642,000 after acquiring an additional 491,962 shares during the period. Royal Bank of Canada raised its stake in Brighthouse Financial by 41.0% in the 1st quarter. Royal Bank of Canada now owns 985,215 shares of the company's stock valued at $57,134,000 after acquiring an additional 286,607 shares during the period. Soros Fund Management LLC raised its stake in Brighthouse Financial by 47.9% in the 2nd quarter. Soros Fund Management LLC now owns 764,750 shares of the company's stock valued at $41,121,000 after acquiring an additional 247,846 shares during the period. Finally, Algebris UK Ltd bought a new stake in Brighthouse Financial in the 1st quarter valued at $11,761,000. Institutional investors own 81.24% of the company's stock.

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.

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