Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Brighthouse Financial (NASDAQ:BHF) Stock

Brighthouse Financial (NASDAQ:BHF) had its price objective upped by equities researchers at Keefe, Bruyette & Woods from $48.00 to $60.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 2.06% from the stock’s previous close.

A number of other analysts have also weighed in on BHF. Barclays upgraded shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $85.00 in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company lowered their target price on Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, Piper Sandler cut their price target on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.63.

Brighthouse Financial Trading Down 1.2 %

Shares of BHF opened at $61.26 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. Brighthouse Financial has a 52-week low of $40.00 and a 52-week high of $64.00. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -3.01 and a beta of 1.08. The business’s fifty day moving average is $50.10 and its 200-day moving average is $47.63.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same quarter in the prior year, the firm earned $4.18 EPS. Equities analysts anticipate that Brighthouse Financial will post 18.2 EPS for the current fiscal year.

Insider Transactions at Brighthouse Financial

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the sale, the executive vice president now directly owns 33,407 shares in the company, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brighthouse Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. increased its holdings in Brighthouse Financial by 974.1% in the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after purchasing an additional 565 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after buying an additional 564 shares during the period. CWM LLC increased its stake in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Brighthouse Financial by 97.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock valued at $78,000 after acquiring an additional 855 shares during the period. Finally, Quarry LP bought a new position in Brighthouse Financial during the second quarter worth $89,000. Institutional investors 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.