Brighthouse Financial (NASDAQ:BHF) Given New $55.00 Price Target at Morgan Stanley

Brighthouse Financial (NASDAQ:BHF) had its target price hoisted by research analysts at Morgan Stanley from $53.00 to $55.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 11.43% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada increased their price objective on Brighthouse Financial from $46.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, August 9th. Wells Fargo & Company increased their price objective on Brighthouse Financial from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Monday, August 9th. Piper Sandler cut their price objective on Brighthouse Financial from $53.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, July 8th. They noted that the move was a valuation call. Finally, Barclays increased their price objective on Brighthouse Financial from $42.00 to $47.00 and gave the company an “underweight” rating in a research report on Monday, August 9th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.89.

BHF traded up $0.27 during trading on Thursday, reaching $49.36. The stock had a trading volume of 1,036 shares, compared to its average volume of 719,895. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -0.97 and a beta of 1.55. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.21. Brighthouse Financial has a 1-year low of $28.74 and a 1-year high of $50.96. The stock has a 50 day moving average of $46.76 and a two-hundred day moving average of $46.14.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Thursday, August 5th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $2.20. Brighthouse Financial had a positive return on equity of 9.31% and a negative net margin of 150.00%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.17 billion. On average, research analysts forecast that Brighthouse Financial will post 16.71 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Brighthouse Financial by 2.6% in the first quarter. Geode Capital Management LLC now owns 1,130,095 shares of the company’s stock valued at $50,006,000 after purchasing an additional 28,699 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Brighthouse Financial by 24.2% in the second quarter. Handelsbanken Fonder AB now owns 18,500 shares of the company’s stock worth $842,000 after acquiring an additional 3,600 shares during the last quarter. Xponance Inc. increased its stake in shares of Brighthouse Financial by 8.6% in the second quarter. Xponance Inc. now owns 9,993 shares of the company’s stock worth $455,000 after acquiring an additional 788 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Brighthouse Financial by 97.1% in the first quarter. Royal Bank of Canada now owns 88,709 shares of the company’s stock worth $3,926,000 after acquiring an additional 43,695 shares during the last quarter. Finally, Utah Retirement Systems acquired a new position in shares of Brighthouse Financial in the first quarter worth $201,000. Institutional investors own 80.41% of the company’s stock.

About Brighthouse Financial

Brighthouse Financial, Inc operates as a holding company, which engages in the provision of life insurance and annuities through independent distribution channels and marketing arrangements with diverse network of distribution partners. It operates through the following segments: Annuities; Life; Run-Off; and Corporate & Others.

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Analyst Recommendations for Brighthouse Financial (NASDAQ:BHF)

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