JPMorgan Chase & Co. Cuts Brighthouse Financial (NASDAQ:BHF) Price Target to $56.00

Brighthouse Financial (NASDAQ:BHF) had its price objective cut by JPMorgan Chase & Co. from $59.00 to $56.00 in a report released on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts have also issued reports on the company. Barclays boosted their price target on Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Piper Sandler lowered 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. Finally, Wells Fargo & Company boosted their price target on Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Brighthouse Financial presently has an average rating of “Hold” and a consensus target price of $51.38.

Brighthouse Financial Price Performance

NASDAQ BHF opened at $47.75 on Tuesday. Brighthouse Financial has a twelve month low of $40.00 and a twelve month high of $54.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $2.83 billion, a PE ratio of -2.35 and a beta of 1.08. The stock has a 50-day simple moving average of $49.71 and a 200 day simple moving average of $46.85.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.50 by ($0.51). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm posted $4.18 EPS. Research analysts anticipate that Brighthouse Financial will post 18.47 EPS for the current year.

Insider Transactions at Brighthouse Financial

In related news, EVP Myles Lambert sold 8,400 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Brighthouse Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Range Financial Group LLC acquired a new stake in Brighthouse Financial during the 4th quarter valued at $826,000. Geode Capital Management LLC increased its holdings in Brighthouse Financial by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company’s stock valued at $49,160,000 after purchasing an additional 8,004 shares in the last quarter. XTX Topco Ltd boosted its position in Brighthouse Financial by 20.3% in the 3rd quarter. XTX Topco Ltd now owns 27,974 shares of the company’s stock valued at $1,260,000 after buying an additional 4,726 shares during the last quarter. Weiss Asset Management LP bought a new position in Brighthouse Financial in the 3rd quarter valued at $782,000. Finally, Two Sigma Advisers LP boosted its position in Brighthouse Financial by 12.6% in the 3rd quarter. Two Sigma Advisers LP now owns 320,700 shares of the company’s stock valued at $14,441,000 after buying an additional 35,800 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

About Brighthouse Financial

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.