Brighthouse Financial (NASDAQ:BHF) Price Target Increased to $63.00 by Analysts at Jefferies Financial Group

Brighthouse Financial (NASDAQ:BHF) had its price target increased by Jefferies Financial Group from $59.00 to $63.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 28.36% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their price target 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 their price target on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Keefe, Bruyette & Woods raised Brighthouse Financial from an “underperform” rating to a “market perform” rating and lowered their price target for the stock from $48.00 to $47.00 in a report on Monday, June 17th. Piper Sandler lowered their price objective on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI lowered their price objective on Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Brighthouse Financial presently has an average rating of “Hold” and a consensus price target of $52.00.

Brighthouse Financial Stock Down 0.0 %

Brighthouse Financial stock traded down $0.02 during midday trading on Monday, reaching $49.08. The company’s stock had a trading volume of 298,162 shares, compared to its average volume of 445,520. Brighthouse Financial has a fifty-two week low of $40.24 and a fifty-two week high of $56.24. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The company has a market cap of $3.05 billion, a P/E ratio of -2.58 and a beta of 1.09. The business has a 50-day simple moving average of $44.48 and a 200-day simple moving average of $47.44.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.29. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm earned $2.86 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts expect that Brighthouse Financial will post 15.01 earnings per share for the current fiscal year.

Insider Transactions at Brighthouse Financial

In related news, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total transaction of $298,608.75. Following the completion of the transaction, the chief financial officer now directly owns 44,765 shares in the company, valued at approximately $1,876,101.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brighthouse Financial news, Director Michael J. Inserra purchased 2,500 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $43.20 per share, for a total transaction of $108,000.00. Following the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $237,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the business’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 completion of the transaction, the chief financial officer now owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BHF. Retirement Systems of Alabama grew its stake in shares of Brighthouse Financial by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock valued at $4,155,000 after buying an additional 211 shares during the period. US Bancorp DE boosted its position in Brighthouse Financial by 0.6% during the 1st quarter. US Bancorp DE now owns 35,695 shares of the company’s stock worth $1,840,000 after purchasing an additional 211 shares during the period. Quadrant Capital Group LLC boosted its position in Brighthouse Financial by 36.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares during the period. Quent Capital LLC boosted its position in Brighthouse Financial by 23.0% during the 4th quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after purchasing an additional 382 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Brighthouse Financial by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,187 shares of the company’s stock worth $1,280,000 after purchasing an additional 388 shares during the period. 81.24% of the stock is currently owned by institutional investors and hedge funds.

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.