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

Brighthouse Financial (NASDAQ:BHF) had its price target lifted by JPMorgan Chase & Co. from $58.00 to $59.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group lifted their price objective on shares of Brighthouse Financial from $46.00 to $49.00 and gave the company a hold rating in a research note on Friday, June 28th. Evercore ISI reduced their price target on Brighthouse Financial from $59.00 to $56.00 and set an in-line rating for the company in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods upgraded Brighthouse Financial from an underperform rating to a market perform rating and decreased their price target for the stock from $48.00 to $47.00 in a research note on Monday, June 17th. Wells Fargo & Company cut their price objective on Brighthouse Financial from $51.00 to $50.00 and set an equal weight rating on the stock in a research note on Friday, May 10th. Finally, Piper Sandler reduced their target price on Brighthouse Financial from $50.00 to $45.00 and set a neutral rating for the company in a report on Friday, June 28th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $50.44.

Brighthouse Financial Stock Up 0.2 %

Shares of Brighthouse Financial stock opened at $43.95 on Tuesday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -2.31 and a beta of 1.09. The stock has a 50-day simple moving average of $44.57 and a 200-day simple moving average of $48.15. Brighthouse Financial has a 52-week low of $40.24 and a 52-week high of $56.24. 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 issued 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. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.14 billion. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.86 earnings per share. On average, equities research analysts expect that Brighthouse Financial will post 16.16 earnings per share for the current fiscal year.

Insider Transactions at Brighthouse Financial

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

Institutional Investors Weigh In On Brighthouse Financial

Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Brighthouse Financial by 29.7% during the third quarter. Royal Bank of Canada now owns 2,073,894 shares of the company’s stock worth $101,496,000 after buying an additional 475,327 shares in the last quarter. UBS Group AG boosted its position in shares of Brighthouse Financial by 4.5% during the 4th quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock valued at $56,200,000 after acquiring an additional 45,938 shares in the last quarter. Northern Trust Corp increased its stake 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 acquiring an additional 2,438 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 worth $32,663,000 after purchasing an additional 119,345 shares in the last quarter. Finally, Norges Bank bought a new position in Brighthouse Financial during the fourth quarter worth about $33,362,000. 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.