Brokerages Set Brighthouse Financial, Inc. (NASDAQ:BHF) Target Price at $63.70

Shares of Brighthouse Financial, Inc. (NASDAQ:BHF) have earned a consensus rating of “Reduce” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $63.6667.

BHF has been the subject of several research reports. Piper Sandler reiterated a “neutral” rating and set a $53.00 target price on shares of Brighthouse Financial in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price target on Brighthouse Financial from $50.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brighthouse Financial in a research report on Monday, December 29th. Raymond James Financial reissued a “market perform” rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Finally, Morgan Stanley set a $70.00 target price on shares of Brighthouse Financial in a report on Thursday, November 6th.

Brighthouse Financial Stock Down 0.7%

BHF stock opened at $63.68 on Friday. Brighthouse Financial has a 52 week low of $42.07 and a 52 week high of $66.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.64 billion, a P/E ratio of 4.34 and a beta of 0.97. The company’s 50-day moving average price is $64.77 and its 200 day moving average price is $55.92.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Friday, November 7th. The company reported $4.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.55). The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.26 billion. Brighthouse Financial had a net margin of 15.39% and a return on equity of 20.59%. Brighthouse Financial’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.99 earnings per share. On average, research analysts expect that Brighthouse Financial will post 20.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brighthouse Financial

A number of institutional investors and hedge funds have recently bought and sold shares of BHF. UBS Group AG increased its position in Brighthouse Financial by 98.1% during the third quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock worth $181,177,000 after buying an additional 1,690,064 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Brighthouse Financial by 190.7% during the third quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company’s stock valued at $74,113,000 after acquiring an additional 915,902 shares during the last quarter. Norges Bank acquired a new stake in shares of Brighthouse Financial during the second quarter valued at $41,182,000. Freestone Grove Partners LP purchased a new stake in Brighthouse Financial during the 3rd quarter worth about $31,465,000. Finally, First Trust Advisors LP raised its stake in Brighthouse Financial by 2,224.3% in the 2nd quarter. First Trust Advisors LP now owns 514,080 shares of the company’s stock valued at $27,642,000 after purchasing an additional 491,962 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.