Brighthouse Financial (NASDAQ:BHF) PT Raised to $47.00 at Piper Sandler

Brighthouse Financial (NASDAQ:BHF) had its price target hoisted by Piper Sandler from $44.00 to $47.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on BHF. Barclays assumed coverage on Brighthouse Financial in a research note on Wednesday, September 4th. They issued an equal weight rating and a $48.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Brighthouse Financial from $58.00 to $59.00 and gave the company an underweight rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a market perform rating for the company in a report on Wednesday, August 14th. Evercore ISI dropped their target price on shares of 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. Finally, Jefferies Financial Group raised their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a buy rating in a research note on Monday, July 29th. Three research 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.com, the company presently has an average rating of Hold and a consensus target price of $50.50.

Brighthouse Financial Trading Up 4.0 %

NASDAQ BHF opened at $45.69 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.84 billion, a P/E ratio of -2.40 and a beta of 1.06. The business has a fifty day simple moving average of $44.23 and a 200 day simple moving average of $45.70. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Wednesday, August 7th. The company reported $5.57 EPS 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the company posted $4.13 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Brighthouse Financial will post 18.16 EPS for the current fiscal year.

Insider Activity

In other news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at $4,428,052. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the transaction, the chief financial officer now owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,125 shares of company stock valued at $1,895,248 over the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

A number of large investors have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. boosted its position in Brighthouse Financial by 75.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock valued at $27,027,000 after buying an additional 269,062 shares during the period. American Century Companies Inc. grew its holdings in Brighthouse Financial by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,273,882 shares of the company’s stock worth $55,210,000 after acquiring an additional 228,814 shares during the last quarter. Millennium Management LLC increased its position 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 valued at $12,147,000 after acquiring an additional 206,116 shares during the period. Great Lakes Advisors LLC raised its stake in shares of Brighthouse Financial by 3,362.1% during the second quarter. Great Lakes Advisors LLC now owns 158,149 shares of the company’s stock valued at $6,854,000 after acquiring an additional 153,581 shares during the last quarter. Finally, Algebris UK Ltd purchased a new stake in shares of Brighthouse Financial during the first quarter worth about $6,938,000. Hedge funds and other 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.