Brighthouse Financial (NASDAQ:BHF) PT Raised to $51.00 at Wells Fargo & Company

Brighthouse Financial (NASDAQ:BHF) had its price target hoisted by Wells Fargo & Company from $49.00 to $51.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages also recently weighed in on BHF. Keefe, Bruyette & Woods reiterated an underperform rating and issued a $50.00 price target on shares of Brighthouse Financial in a report on Friday, February 16th. Morgan Stanley downgraded Brighthouse Financial from an equal weight rating to an underweight rating and set a $52.00 price target for the company. in a report on Friday, February 23rd. Finally, Piper Sandler upped their price objective on Brighthouse Financial from $48.00 to $55.00 and gave the stock a neutral rating in a research note on Friday, April 5th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $51.14.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $47.96 on Thursday. Brighthouse Financial has a twelve month low of $39.24 and a twelve month high of $56.24. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -2.59 and a beta of 1.16. The business has a 50 day simple moving average of $48.74 and a 200-day simple moving average of $49.74.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $2.92 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $3.51 earnings per share. As a group, equities research analysts expect that Brighthouse Financial will post 17.05 earnings per share for the current year.

Insider Buying and Selling

In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the transaction, the chief executive officer now owns 390,765 shares in the company, valued at approximately $18,350,324.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the transaction, the chief executive officer now owns 390,765 shares in the company, valued at approximately $18,350,324.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vonda Huss sold 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.85, for a total value of $468,500.00. Following the transaction, the executive vice president now owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BHF. Envestnet Asset Management Inc. boosted its position in Brighthouse Financial by 12.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,277 shares of the company’s stock worth $273,000 after acquiring an additional 564 shares during the period. Raymond James & Associates lifted its holdings in shares of Brighthouse Financial by 70.5% in the first quarter. Raymond James & Associates now owns 7,543 shares of the company’s stock valued at $390,000 after buying an additional 3,119 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Brighthouse Financial by 10.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the company’s stock valued at $255,000 after buying an additional 487 shares during the period. Bank of Montreal Can lifted its holdings in shares of Brighthouse Financial by 70.5% in the first quarter. Bank of Montreal Can now owns 14,122 shares of the company’s stock valued at $737,000 after buying an additional 5,841 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Brighthouse Financial by 30.2% in the first quarter. MetLife Investment Management LLC now owns 50,351 shares of the company’s stock valued at $2,601,000 after buying an additional 11,670 shares during the period. Institutional investors and hedge funds 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.