Brighthouse Financial (NASDAQ:BHF) Trading Up 26.4% - Here's Why

Key Points

• Brighthouse Financial stock surged 26.4%, reaching a peak price of $57.22, although trading volume dropped 44% compared to its average.
• Analysts provided mixed reviews; Piper Sandler downgraded their price target from $63.00 to $55.00, while JPMorgan Chase & Co. raised theirs from $56.00 to $63.00, resulting in a consensus rating of "Hold."
• In the latest earnings report, Brighthouse Financial missed expectations with an EPS of $3.43, falling short of the $4.70 forecast, while revenue declined 2.8% year-over-year.

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report)'s stock price rose 26.4% on Friday . The stock traded as high as $48.02 and last traded at $57.22. Approximately 472,423 shares traded hands during trading, a decline of 44% from the average daily volume of 847,698 shares. The stock had previously closed at $45.26.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler reduced their price objective on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Wells Fargo & Company raised 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. Morgan Stanley reduced their price objective on Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating for the company in a research report on Monday, July 14th. Keefe, Bruyette & Woods decreased their price objective on shares of Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating for the company in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $59.67.

Brighthouse Financial Stock Performance

The stock has a market cap of $3.36 billion, a PE ratio of 6.33 and a beta of 0.87. The business's fifty day moving average price is $47.30 and its 200-day moving average price is $52.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.

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

Hedge Funds Weigh In On Brighthouse Financial

A number of large investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of Brighthouse Financial by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 74,877 shares of the company's stock worth $3,597,000 after buying an additional 491 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Brighthouse Financial by 2.1% in the fourth quarter. Nuveen Asset Management LLC now owns 89,097 shares of the company's stock valued at $4,280,000 after purchasing an additional 1,832 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Brighthouse Financial during the fourth quarter worth approximately $378,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Brighthouse Financial by 7.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,895 shares of the company's stock valued at $9,411,000 after purchasing an additional 14,316 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Brighthouse Financial by 29.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,044 shares of the company's stock worth $627,000 after buying an additional 2,981 shares during the period. 81.24% of the stock is currently 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.

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