Brighthouse Financial (NASDAQ:BHF) Given New $57.00 Price Target at Keefe, Bruyette & Woods

Brighthouse Financial (NASDAQ:BHF) had its price target reduced by equities researchers at Keefe, Bruyette & Woods from $67.00 to $57.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 16.73% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings cut shares of Brighthouse Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 10th. Six analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.00.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF traded down $0.16 during midday trading on Friday, hitting $48.83. The company’s stock had a trading volume of 279,308 shares, compared to its average volume of 727,916. The stock has a fifty day moving average price of $53.69 and a 200 day moving average price of $59.44. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. Brighthouse Financial has a one year low of $44.51 and a one year high of $66.80. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 3.90, a P/E/G ratio of 0.66 and a beta of 0.83.

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

Institutional Trading of Brighthouse Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Brighthouse Financial during the second quarter worth about $341,422,000. Dimensional Fund Advisors LP increased its position in shares of Brighthouse Financial by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,555,823 shares of the company’s stock worth $212,926,000 after purchasing an additional 60,791 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Brighthouse Financial in the second quarter valued at approximately $54,895,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Brighthouse Financial by 64.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 642,800 shares of the company’s stock valued at $38,491,000 after purchasing an additional 251,993 shares in the last quarter. Finally, Kryger Capital LLC bought a new stake in Brighthouse Financial during the first quarter valued at approximately $30,104,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.