Brighthouse Financial (NASDAQ:BHF) Shares Gap Up - Should You Buy?

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $47.32, but opened at $52.06. Brighthouse Financial shares last traded at $51.66, with a volume of 708,384 shares.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BHF. Piper Sandler reduced their target price on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price target on Brighthouse Financial from $56.00 to $59.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 13th. Wells Fargo & Company increased their price objective on shares of Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Barclays dropped their price target on Brighthouse Financial from $76.00 to $70.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Finally, Wall Street Zen cut shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.30.

Brighthouse Financial Trading Down 1.8%

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 6.01 and a beta of 0.88. The firm's 50-day simple moving average is $56.42 and its 200 day simple moving average is $55.36.

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

Insider Activity

In related news, EVP Vonda Huss sold 3,000 shares of the 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 completion of the transaction, the executive vice president owned 18,441 shares of the company's stock, valued at $1,097,423.91. This represents a 13.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BHF. Versant Capital Management Inc raised its stake in shares of Brighthouse Financial by 188.0% during the first quarter. Versant Capital Management Inc now owns 622 shares of the company's stock valued at $36,000 after acquiring an additional 406 shares during the last quarter. Brooklyn Investment Group increased its holdings in Brighthouse Financial by 42.0% in 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 during the period. Jones Financial Companies Lllp increased its holdings in Brighthouse Financial by 835.2% in 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 during the period. Aster Capital Management DIFC Ltd raised its position in Brighthouse Financial by 327.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock worth $44,000 after purchasing an additional 703 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Brighthouse Financial by 101.7% during the 1st quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock worth $70,000 after buying an additional 605 shares during the period. 81.24% of the stock is currently owned by institutional investors and hedge funds.

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.