Brighthouse Financial (NASDAQ:BHF) Sees Strong Trading Volume - Time to Buy?

Shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 875,172 shares changed hands during trading, an increase of 193% from the previous session's volume of 298,403 shares.The stock last traded at $61.66 and had previously closed at $51.09.

Analysts Set New Price Targets

Several research firms recently weighed in on BHF. JPMorgan Chase & Co. decreased their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. Piper Sandler decreased their price objective on shares of Brighthouse Financial from $55.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods upped their target price on shares of Brighthouse Financial from $48.00 to $60.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Wells Fargo & Company reduced their price target 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, Jefferies Financial Group downgraded Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 price target on the stock. in a research report on Monday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $57.75.

Brighthouse Financial Price Performance

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The company's fifty day moving average price is $50.30 and its 200 day moving average price is $47.70. The company has a market capitalization of $3.57 billion, a P/E ratio of -2.96 and a beta of 1.10.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts' consensus estimates of $4.50 by ($0.51). The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same quarter last year, the business earned $4.18 EPS. As a group, sell-side analysts forecast that Brighthouse Financial, Inc. will post 18.2 EPS for the current year.

Insider Transactions at Brighthouse Financial

In other news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the transaction, the executive vice president now owns 33,407 shares of the company's stock, valued at approximately $1,727,141.90. This represents a 20.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brighthouse Financial

Large investors have recently bought and sold shares of the company. State Street Corp increased its holdings in Brighthouse Financial by 2.2% in the third quarter. State Street Corp now owns 2,314,905 shares of the company's stock valued at $104,240,000 after purchasing an additional 50,441 shares during the period. Geode Capital Management LLC increased its stake in shares of Brighthouse Financial by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company's stock valued at $49,160,000 after buying an additional 8,004 shares during the period. Two Sigma Advisers LP raised its position in shares of Brighthouse Financial by 12.6% during the third quarter. Two Sigma Advisers LP now owns 320,700 shares of the company's stock worth $14,441,000 after acquiring an additional 35,800 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Brighthouse Financial by 278.0% in the second quarter. Millennium Management LLC now owns 280,270 shares of the company's stock worth $12,147,000 after acquiring an additional 206,116 shares during the period. Finally, Algert Global LLC boosted its holdings in Brighthouse Financial by 9.3% in the third quarter. Algert Global LLC now owns 222,504 shares of the company's stock valued at $10,019,000 after acquiring an additional 19,022 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

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.