Brighthouse Financial (NASDAQ:BHF) Trading 6% Higher - Here's What Happened

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report)'s stock price was up 6% during trading on Tuesday . The company traded as high as $54.95 and last traded at $57.68. Approximately 221,045 shares were traded during trading, a decline of 73% from the average daily volume of 812,536 shares. The stock had previously closed at $54.41.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BHF shares. Keefe, Bruyette & Woods upped their price objective on Brighthouse Financial from $60.00 to $66.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. UBS Group set a $72.00 target price on shares of Brighthouse Financial in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their price target on shares of Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley dropped their price target on Brighthouse Financial from $52.00 to $41.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Finally, Raymond James upgraded Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 target price for the company in a research report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Brighthouse Financial presently has an average rating of "Hold" and an average price target of $62.00.

Brighthouse Financial Stock Performance

The firm has a market cap of $3.40 billion, a PE ratio of 11.41 and a beta of 0.96. The business has a 50 day simple moving average of $54.59 and a two-hundred day simple moving average of $52.87. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, beating analysts' consensus estimates of $4.56 by $1.32. Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. As a group, equities research analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brighthouse Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of Brighthouse Financial by 187.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company's stock valued at $87,585,000 after purchasing an additional 1,188,685 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Brighthouse Financial by 12.1% in the 4th quarter. American Century Companies Inc. now owns 1,682,076 shares of the company's stock valued at $80,807,000 after acquiring an additional 181,980 shares during the period. Victory Capital Management Inc. raised its position in shares of Brighthouse Financial by 3.2% in the 1st quarter. Victory Capital Management Inc. now owns 912,242 shares of the company's stock worth $52,901,000 after acquiring an additional 28,080 shares in the last quarter. Norges Bank purchased a new stake in shares of Brighthouse Financial during the 4th quarter worth $37,131,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Brighthouse Financial by 3.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 732,689 shares of the company's stock valued at $35,198,000 after purchasing an additional 24,662 shares in the last quarter. Institutional investors own 81.24% of the company's stock.

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.