Brighthouse Financial (NASDAQ:BHF) Stock Price Target Cut by Keefe, Bruyette & Woods

Brighthouse Financial (NASDAQ:BHF) had its price objective reduced by equities research analysts at Keefe, Bruyette & Woods from $57.00 to $55.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 15.06% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Wall Street Zen raised Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded Brighthouse Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 10th. Six equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.33.

Brighthouse Financial Trading Down 0.3%

Shares of Brighthouse Financial stock opened at $47.80 on Thursday. The stock has a market cap of $2.75 billion, a P/E ratio of 3.81, a P/E/G ratio of 0.63 and a beta of 0.83. The stock’s 50 day simple moving average is $52.58 and its 200-day simple moving average is $59.10. Brighthouse Financial has a 1-year low of $44.51 and a 1-year high of $66.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company earned $3.43 earnings per share. Brighthouse Financial’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that Brighthouse Financial will post 18.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Brighthouse Financial

Several institutional investors and hedge funds have recently bought and sold shares of BHF. Mather Group LLC. increased its holdings in shares of Brighthouse Financial by 8,900.0% during the 3rd quarter. Mather Group LLC. now owns 630 shares of the company’s stock worth $31,000 after buying an additional 623 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in Brighthouse Financial in the third quarter valued at $235,000. QRG Capital Management Inc. raised its position in Brighthouse Financial by 15.5% in the second quarter. QRG Capital Management Inc. now owns 3,967 shares of the company’s stock valued at $251,000 after purchasing an additional 532 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Brighthouse Financial by 41.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,241 shares of the company’s stock valued at $458,000 after purchasing an additional 2,106 shares during the last quarter. Finally, Maven Securities LTD acquired a new position in shares of Brighthouse Financial in the 2nd quarter valued at $1,914,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc (NASDAQ: BHF) is a U.S.-based insurance holding company that provides annuities and life insurance products designed to help individuals and families address retirement income, financial protection and legacy-planning needs. The company primarily serves retail customers through independent distribution partners, including financial professionals and insurance agencies.

Brighthouse Financial’s offerings include fixed, variable and index-linked annuities, as well as life insurance products such as term life, universal life and variable universal life insurance.