Brighthouse Financial (NASDAQ:BHF) Given New $63.00 Price Target at JPMorgan Chase & Co.

Brighthouse Financial (NASDAQ:BHF - Free Report) had its target price lifted by JPMorgan Chase & Co. from $56.00 to $63.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

BHF has been the topic of a number of other reports. Wells Fargo & Company reduced their price target on Brighthouse Financial from $59.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Wall Street Zen downgraded Brighthouse Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Piper Sandler dropped their price target 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. Raymond James Financial upgraded Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 price target on the stock in a research note on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Brighthouse Financial from $56.00 to $59.00 and gave the company a "market perform" rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $60.40.

Brighthouse Financial Stock Up 2.8%

Shares of BHF traded up $1.41 during mid-day trading on Tuesday, hitting $52.11. The company's stock had a trading volume of 823,108 shares, compared to its average volume of 620,664. The company's 50-day moving average is $57.63 and its 200-day moving average is $55.35. Brighthouse Financial has a 52-week low of $40.00 and a 52-week high of $64.12. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 2.59 and a beta of 0.88. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.55). Brighthouse Financial had a net margin of 8.71% and a return on equity of 25.60%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.29 billion. During the same period in the previous year, the company posted $4.25 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Brighthouse Financial will post 20.32 EPS for the current fiscal year.

Insider Activity

In other news, EVP Vonda Huss sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total transaction of $178,530.00. Following the sale, the executive vice president owned 18,441 shares of the company's stock, valued at $1,097,423.91. This trade represents a 13.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Brighthouse Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHF. Versant Capital Management Inc grew its position in 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 buying an additional 406 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in Brighthouse Financial by 327.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock valued at $44,000 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, UMB Bank n.a. lifted its holdings in Brighthouse Financial by 101.7% during the first quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. Institutional investors and hedge funds 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.