Analysts Set Brighthouse Financial, Inc. (NASDAQ:BHF) Price Target at $61.29

Shares of Brighthouse Financial, Inc. (NASDAQ:BHF) have received an average rating of “Reduce” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $61.2857.

Several analysts recently weighed in on BHF shares. Barclays cut Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price target for the company. in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brighthouse Financial in a report on Monday, December 29th. Finally, Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 17th.

Brighthouse Financial Trading Up 0.5%

Shares of BHF stock opened at $60.54 on Monday. Brighthouse Financial has a 12-month low of $42.07 and a 12-month high of $66.33. The company has a market capitalization of $3.46 billion, a PE ratio of 10.44 and a beta of 0.96. The firm has a 50 day moving average price of $62.29 and a two-hundred day moving average price of $59.54. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On Brighthouse Financial

A number of hedge funds have recently bought and sold shares of BHF. Citigroup Inc. increased its holdings in shares of Brighthouse Financial by 360.5% during the third quarter. Citigroup Inc. now owns 151,891 shares of the company’s stock worth $8,062,000 after purchasing an additional 118,909 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Brighthouse Financial in the third quarter valued at approximately $919,000. American Century Companies Inc. boosted its stake in shares of Brighthouse Financial by 10.4% in the third quarter. American Century Companies Inc. now owns 2,210,276 shares of the company’s stock valued at $117,321,000 after buying an additional 208,630 shares during the period. Four Tree Island Advisory LLC grew its position in Brighthouse Financial by 85.6% during the third quarter. Four Tree Island Advisory LLC now owns 22,762 shares of the company’s stock worth $1,210,000 after buying an additional 10,500 shares in the last quarter. Finally, Gabelli Funds LLC bought a new position in Brighthouse Financial during the 3rd quarter worth $1,328,000. 81.24% of the stock is owned by institutional investors.

About Brighthouse Financial

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.