Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $60.00

Brighthouse Financial (NASDAQ:BHF) had its price target raised by equities researchers at Piper Sandler from $52.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 3.73% from the stock’s current price.

A number of other research firms also recently issued reports on BHF. Wells Fargo & Company decreased their price objective on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Barclays upgraded Brighthouse Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $85.00 in a research report on Wednesday, January 29th. Jefferies Financial Group downgraded Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and an average target price of $58.75.

Brighthouse Financial Stock Down 1.1 %

BHF traded down $0.65 during mid-day trading on Thursday, reaching $57.84. 111,493 shares of the stock were exchanged, compared to its average volume of 690,758. Brighthouse Financial has a 1 year low of $40.00 and a 1 year high of $64.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $3.43 billion, a PE ratio of -2.85 and a beta of 1.10. The company has a 50 day moving average price of $51.47 and a two-hundred day moving average price of $48.32.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. As a group, research analysts anticipate that Brighthouse Financial will post 18.2 EPS for the current year.

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president now directly owns 66,262 shares of the company’s stock, valued at approximately $4,041,982. The trade was a 13.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the transaction, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Brighthouse Financial

A number of hedge funds have recently modified their holdings of the business. Xponance Inc. boosted its stake in Brighthouse Financial by 2.7% during the fourth quarter. Xponance Inc. now owns 6,860 shares of the company’s stock worth $330,000 after acquiring an additional 181 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Brighthouse Financial by 0.8% during the fourth quarter. Amalgamated Bank now owns 28,345 shares of the company’s stock valued at $1,362,000 after purchasing an additional 227 shares during the last quarter. US Bancorp DE boosted its position in shares of Brighthouse Financial by 0.9% in the 3rd quarter. US Bancorp DE now owns 35,755 shares of the company’s stock worth $1,610,000 after purchasing an additional 319 shares in the last quarter. CWM LLC grew its stake in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after buying an additional 339 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Brighthouse Financial by 0.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 72,872 shares of the company’s stock valued at $3,501,000 after buying an additional 388 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.