Keefe, Bruyette & Woods Cuts Brighthouse Financial (NASDAQ:BHF) Price Target to $43.00

Brighthouse Financial (NASDAQ:BHF) had its target price cut by Keefe, Bruyette & Woods from $47.00 to $43.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a market perform rating on the stock.

BHF has been the subject of several other research reports. Wells Fargo & Company downgraded shares of Brighthouse Financial from an equal weight rating to an underweight rating and reduced their price objective for the stock from $51.00 to $40.00 in a research report on Monday, August 12th. 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 report on Monday, July 29th. Piper Sandler dropped their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a neutral rating on the stock in a report on Friday, June 28th. Evercore ISI reduced their target price on Brighthouse Financial from $56.00 to $52.00 and set an in-line rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on Brighthouse Financial from $58.00 to $59.00 and gave the stock an underweight rating in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $50.00.

Brighthouse Financial Trading Up 3.1 %

BHF opened at $43.46 on Wednesday. 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 stock has a market cap of $2.70 billion, a PE ratio of -2.28 and a beta of 1.08. The company has a fifty day moving average of $44.78 and a 200-day moving average of $46.85. Brighthouse Financial has a twelve month low of $40.24 and a twelve month high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, topping the consensus estimate of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the company posted $4.13 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Brighthouse Financial will post 15.01 EPS for the current year.

Insider Activity at Brighthouse Financial

In related news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction dated Wednesday, May 29th. The shares were 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 owns 44,765 shares in the company, valued at $1,876,101.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the executive vice president now owns 96,262 shares of the company’s stock, valued at $4,428,052. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Edward A. Spehar sold 7,125 shares of the firm’s 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 of the company’s stock, valued at $1,876,101.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,250 shares of company stock valued at $826,006. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its position in shares of Brighthouse Financial by 39.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company’s stock valued at $4,359,000 after acquiring an additional 23,922 shares during the period. Algebris UK Ltd bought a new stake in Brighthouse Financial during the first quarter valued at $6,938,000. Campbell & CO Investment Adviser LLC increased its stake in Brighthouse Financial by 138.8% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 34,436 shares of the company’s stock worth $1,822,000 after acquiring an additional 20,015 shares during the last quarter. Seven Eight Capital LP grew its holdings in shares of Brighthouse Financial by 342.1% during the first quarter. Seven Eight Capital LP now owns 28,063 shares of the company’s stock worth $1,446,000 after purchasing an additional 21,716 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Brighthouse Financial in the first quarter worth approximately $2,278,000. 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.