Wells Fargo & Company Increases Brighthouse Financial (NASDAQ:BHF) Price Target to $41.00

Brighthouse Financial (NASDAQ:BHF) had its price target raised by Wells Fargo & Company from $40.00 to $41.00 in a research report sent to investors on Thursday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Brighthouse Financial from $47.00 to $43.00 and set a market perform rating on the stock in a research note on Wednesday, August 14th. 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. Piper Sandler lifted their target price on Brighthouse Financial from $44.00 to $47.00 and gave the stock a neutral rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on Brighthouse Financial from $59.00 to $63.00 and gave the stock a buy rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on Brighthouse Financial from $58.00 to $59.00 and gave the stock an underweight rating in a research note on Tuesday, July 2nd. Three research 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 MarketBeat.com, Brighthouse Financial presently has a consensus rating of Hold and an average target price of $50.63.

Brighthouse Financial Stock Up 0.2 %

Shares of BHF opened at $45.24 on Thursday. Brighthouse Financial has a 12-month low of $40.00 and a 12-month high of $56.24. The business’s fifty day moving average is $43.85 and its 200 day moving average is $45.61. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the business earned $4.13 EPS. Brighthouse Financial’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Brighthouse Financial will post 18.52 EPS for the current fiscal year.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial 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 transaction of $1,141,750.00. Following the completion of the transaction, the chief executive officer now owns 321,072 shares of the company’s stock, valued at $14,663,358.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP John Rosenthal sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total transaction of $226,100.00. Following the completion of the transaction, the executive vice president now owns 91,262 shares of the company’s stock, valued at approximately $4,126,867.64. 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, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s 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 directly owns 321,072 shares of the company’s stock, valued at $14,663,358.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,125 shares of company stock valued at $1,665,248 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. lifted its position 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 buying an additional 228,814 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in Brighthouse Financial by 75.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,607 shares of the company’s stock worth $27,027,000 after buying an additional 269,062 shares during the last quarter. Private Management Group Inc. lifted its position in Brighthouse Financial by 1.9% in the 1st quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock worth $17,559,000 after buying an additional 6,496 shares during the last quarter. Millennium Management LLC lifted its position in Brighthouse Financial by 278.0% in the 2nd quarter. Millennium Management LLC now owns 280,270 shares of the company’s stock worth $12,147,000 after buying an additional 206,116 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Brighthouse Financial by 139.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 247,210 shares of the company’s stock worth $10,714,000 after buying an additional 144,102 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.