Brighthouse Financial (NASDAQ:BHF) PT Raised to $59.00 at JPMorgan Chase & Co.

Brighthouse Financial (NASDAQ:BHF) had its target price increased by analysts at JPMorgan Chase & Co. from $58.00 to $59.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 34.24% from the company’s current price.

A number of other equities research analysts have also recently commented on BHF. Jefferies Financial Group increased their target price on Brighthouse Financial from $46.00 to $49.00 and gave the company a “hold” rating in a report on Friday, June 28th. Evercore ISI lowered their target price on Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Wells Fargo & Company lowered their target price on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Keefe, Bruyette & Woods upgraded Brighthouse Financial from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $48.00 to $47.00 in a report on Monday, June 17th. Finally, Piper Sandler lowered their target price on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Brighthouse Financial presently has a consensus rating of “Hold” and a consensus target price of $50.44.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $43.95 on Tuesday. Brighthouse Financial has a 1-year low of $40.24 and a 1-year high of $56.24. The company has a market capitalization of $2.73 billion, a P/E ratio of -2.31 and a beta of 1.09. The business has a 50 day moving average price of $44.68 and a 200 day moving average price of $48.18. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.83.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.29. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the business posted $2.86 EPS. Brighthouse Financial’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Brighthouse Financial will post 16.16 EPS for the current fiscal year.

Insider Transactions at Brighthouse Financial

In other news, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total transaction of $298,608.75. Following the sale, the chief financial officer now owns 44,765 shares in the company, valued at $1,876,101.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael J. Inserra bought 2,500 shares of Brighthouse Financial stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $43.20 per share, for a total transaction of $108,000.00. Following the completion of the acquisition, the director now owns 5,500 shares of the company’s stock, valued at $237,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in Brighthouse Financial by 0.3% in the third quarter. Northern Trust Corp now owns 723,928 shares of the company’s stock valued at $35,429,000 after purchasing an additional 2,438 shares during the period. Royal Bank of Canada raised its position in Brighthouse Financial by 29.7% in the third quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock valued at $101,496,000 after purchasing an additional 475,327 shares during the period. American Century Companies Inc. raised its position in Brighthouse Financial by 21.8% in the third quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock valued at $32,663,000 after purchasing an additional 119,345 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Brighthouse Financial by 86.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 23,776 shares of the company’s stock valued at $1,163,000 after purchasing an additional 11,036 shares during the period. Finally, Diversified Trust Co purchased a new position in Brighthouse Financial in the fourth quarter valued at about $518,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Company Profile

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.