Brighthouse Financial (NASDAQ:BHF) Price Target Cut to $56.00 by Analysts at JPMorgan Chase & Co.

Brighthouse Financial (NASDAQ:BHF - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $59.00 to $56.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

BHF has been the topic of a number of other research reports. Barclays boosted their price target on Brighthouse Financial from $48.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Monday, December 16th. Wells Fargo & Company lifted their price target on Brighthouse Financial from $40.00 to $41.00 and gave the stock an "underweight" rating in a report on Thursday, October 10th. Finally, Piper Sandler reduced their price target on Brighthouse Financial from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $51.38.

Brighthouse Financial Trading Up 0.4 %

Shares of BHF stock traded up $0.20 on Tuesday, reaching $48.24. The company had a trading volume of 308,797 shares, compared to its average volume of 293,349. The stock has a market cap of $2.86 billion, a PE ratio of -2.37 and a beta of 1.08. The company has a 50-day moving average of $49.72 and a 200-day moving average of $46.80. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $54.73.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its earnings results 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 the consensus estimate of $2.21 billion. During the same quarter in the prior year, the firm posted $4.18 earnings per share. On average, equities analysts forecast that Brighthouse Financial will post 18.47 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP John Rosenthal sold 4,265 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the sale, the executive vice president now owns 86,262 shares in the company, valued at approximately $3,971,502.48. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total value of $434,280.00. Following the sale, the executive vice president now directly owns 33,407 shares of the company's stock, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Brighthouse Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in Brighthouse Financial by 2.2% in the third quarter. State Street Corp now owns 2,314,905 shares of the company's stock worth $104,240,000 after acquiring an additional 50,441 shares during the period. Lighthouse Investment Partners LLC raised its holdings in Brighthouse Financial by 204.6% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 135,730 shares of the company's stock worth $5,883,000 after purchasing an additional 91,175 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Brighthouse Financial by 12.7% in the 2nd quarter. Edgestream Partners L.P. now owns 153,789 shares of the company's stock worth $6,665,000 after purchasing an additional 17,329 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Brighthouse Financial by 102.1% during the third quarter. Assenagon Asset Management S.A. now owns 160,399 shares of the company's stock valued at $7,223,000 after buying an additional 81,040 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Brighthouse Financial during the third quarter valued at about $1,404,000. Institutional investors own 81.24% of the company's stock.

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.