Brighthouse Financial (NASDAQ:BHF) Given New $54.00 Price Target at Wells Fargo & Company

Brighthouse Financial (NASDAQ:BHF - Get Free Report) had its target price upped by equities researchers at Wells Fargo & Company from $53.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 10.68% from the company's previous close.

Other analysts also recently issued reports about the company. Raymond James Financial upgraded Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 target price on the stock in a research report on Tuesday, March 18th. Piper Sandler decreased their target price on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their target price on Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded Brighthouse Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Keefe, Bruyette & Woods boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $60.60.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock traded down $3.34 during trading on Thursday, reaching $48.79. The company's stock had a trading volume of 1,596,496 shares, compared to its average volume of 626,225. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. Brighthouse Financial has a 12-month low of $40.00 and a 12-month high of $64.12. The company has a market capitalization of $2.80 billion, a P/E ratio of 5.85 and a beta of 0.88. The business has a 50 day moving average price of $57.09 and a 200-day moving average price of $55.43.

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

Insider Buying and Selling at Brighthouse Financial

In related news, EVP Vonda Huss sold 3,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was 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 directly owned 18,441 shares in the company, valued at approximately $1,097,423.91. This represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brighthouse Financial

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in Brighthouse Financial by 188.0% in the first quarter. Versant Capital Management Inc now owns 622 shares of the company's stock valued at $36,000 after purchasing an additional 406 shares during the last quarter. Brooklyn Investment Group increased its stake in Brighthouse Financial by 42.0% during the first quarter. Brooklyn Investment Group now owns 764 shares of the company's stock worth $44,000 after acquiring an additional 226 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock worth $48,000 after acquiring an additional 735 shares during the last quarter. Aster Capital Management DIFC Ltd increased its stake in Brighthouse Financial by 327.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock worth $44,000 after acquiring an additional 703 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Brighthouse Financial by 101.7% during the first quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock worth $70,000 after acquiring an additional 605 shares during the last quarter. 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.