Brighthouse Financial (NASDAQ:BHF) Price Target Increased to $47.00 by Analysts at Piper Sandler

Brighthouse Financial (NASDAQ:BHF - Free Report) had its target price increased by Piper Sandler from $44.00 to $47.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

BHF has been the topic of a number of other research reports. Barclays initiated coverage on shares of Brighthouse Financial in a report on Wednesday, September 4th. They issued an equal weight rating and a $48.00 target price on the stock. Jefferies Financial Group raised their price target on Brighthouse Financial from $59.00 to $63.00 and gave the company a buy rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on Brighthouse Financial from $58.00 to $59.00 and gave the stock an underweight rating in a report on Tuesday, July 2nd. Wells Fargo & Company lowered Brighthouse Financial from an equal weight rating to an underweight rating and decreased their price target for the company from $51.00 to $40.00 in a research note on Monday, August 12th. Finally, Evercore ISI dropped their price objective on Brighthouse Financial from $56.00 to $52.00 and set an in-line rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Brighthouse Financial currently has an average rating of Hold and a consensus price target of $50.50.

Brighthouse Financial Stock Performance

Shares of BHF traded up $0.30 during mid-day trading on Wednesday, hitting $44.25. The stock had a trading volume of 345,198 shares, compared to its average volume of 434,033. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.75 billion, a PE ratio of -2.32 and a beta of 1.06. Brighthouse Financial has a fifty-two week low of $40.00 and a fifty-two week high of $56.24. The company's fifty day simple moving average is $44.45 and its two-hundred day simple moving average is $45.73.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating the consensus estimate of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm earned $4.13 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Brighthouse Financial will post 18.16 earnings per share for the current year.

Insider Transactions at Brighthouse Financial

In related news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.67, for a total value of $1,141,750.00. Following the transaction, the chief executive officer now owns 321,072 shares of the company's stock, valued at approximately $14,663,358.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Brighthouse Financial news, EVP John Rosenthal sold 5,000 shares of the firm's stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 96,262 shares in the company, valued at approximately $4,428,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.67, for a total value of $1,141,750.00. Following the transaction, the chief executive officer now directly owns 321,072 shares in the company, valued at approximately $14,663,358.24. The disclosure for this sale can be found here. Insiders sold a total of 42,125 shares of company stock valued at $1,895,248 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brighthouse Financial

A number of institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in shares of Brighthouse Financial by 39.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company's stock worth $4,359,000 after acquiring an additional 23,922 shares in the last quarter. Algebris UK Ltd purchased a new stake in shares of Brighthouse Financial during the 1st quarter worth about $6,938,000. Seven Eight Capital LP lifted its holdings in shares of Brighthouse Financial by 342.1% during the 1st quarter. Seven Eight Capital LP now owns 28,063 shares of the company's stock valued at $1,446,000 after buying an additional 21,716 shares during the last quarter. Lighthouse Investment Partners LLC grew its stake in shares of Brighthouse Financial by 204.6% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 135,730 shares of the company's stock valued at $5,883,000 after buying an additional 91,175 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Brighthouse Financial in the first quarter worth approximately $2,278,000. Institutional investors and hedge funds 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.