Brighthouse Financial (NASDAQ:BHF) Price Target Cut to $56.00 by Analysts at JPMorgan Chase & Co.

Brighthouse Financial (NASDAQ:BHF) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $59.00 to $56.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 16.13% from the stock’s previous close.

A number of other equities analysts have also issued reports on BHF. Wells Fargo & Company increased their price target on Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Piper Sandler cut their price target on shares of Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Finally, Barclays increased their target price on shares of Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.38.

Brighthouse Financial Stock Performance

BHF traded up $0.18 during trading hours on Tuesday, hitting $48.22. 132,073 shares of the stock were exchanged, compared to its average volume of 248,002. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $54.73. The stock has a 50-day simple moving average of $49.72 and a 200-day simple moving average of $46.80. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -2.37 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.51). Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business posted $4.18 EPS. Analysts anticipate that Brighthouse Financial will post 18.47 earnings per share for the current year.

Insider Activity

In related news, EVP John Rosenthal sold 4,265 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $46.04, for a total transaction of $196,360.60. Following the completion of the sale, the executive vice president now directly owns 86,262 shares in the company, valued at approximately $3,971,502.48. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Myles Lambert sold 8,400 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the transaction, the executive vice president now owns 33,407 shares in the company, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

A number of institutional investors and hedge funds have recently made changes to their positions in BHF. US Bancorp DE lifted its holdings in 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 during the last quarter. CWM LLC boosted its holdings in shares of Brighthouse Financial by 29.4% during 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 period. Creative Planning grew its stake in Brighthouse Financial by 5.7% in the 3rd quarter. Creative Planning now owns 7,843 shares of the company’s stock valued at $353,000 after buying an additional 420 shares during the last quarter. KBC Group NV raised its holdings in Brighthouse Financial by 30.2% in the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after acquiring an additional 464 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after acquiring an additional 564 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

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.