Brighthouse Financial (NASDAQ:BHF) PT Raised to $51.00 at Wells Fargo & Company

Brighthouse Financial (NASDAQ:BHF) had its price target hoisted by Wells Fargo & Company from $49.00 to $51.00 in a research report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages also recently weighed in on BHF. Morgan Stanley downgraded shares of Brighthouse Financial from an equal weight rating to an underweight rating and set a $52.00 target price on the stock. in a report on Friday, February 23rd. Piper Sandler boosted their target price on shares of Brighthouse Financial from $48.00 to $55.00 and gave the stock a neutral rating in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods restated an underperform rating and set a $50.00 target price on shares of Brighthouse Financial in a report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $51.14.

Brighthouse Financial Price Performance

NASDAQ BHF opened at $47.80 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.63. Brighthouse Financial has a 12-month low of $39.24 and a 12-month high of $56.24. The company has a market capitalization of $3.01 billion, a PE ratio of -2.58 and a beta of 1.16. The firm’s 50 day moving average is $48.80 and its 200-day moving average is $49.74.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $2.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.91). Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $3.51 earnings per share. Equities research analysts anticipate that Brighthouse Financial will post 17.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Brighthouse Financial news, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the transaction, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at $1,268,698. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Vonda Huss sold 10,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.85, for a total value of $468,500.00. Following the completion of the sale, the executive vice president now owns 27,080 shares of the company’s stock, valued at $1,268,698. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

A number of institutional investors have recently modified their holdings of BHF. Envestnet Asset Management Inc. boosted its position in shares of Brighthouse Financial by 12.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,277 shares of the company’s stock valued at $273,000 after acquiring an additional 564 shares during the period. Raymond James & Associates boosted its position in shares of Brighthouse Financial by 70.5% in the first quarter. Raymond James & Associates now owns 7,543 shares of the company’s stock valued at $390,000 after acquiring an additional 3,119 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Brighthouse Financial by 10.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,954 shares of the company’s stock valued at $255,000 after acquiring an additional 487 shares during the period. Bank of Montreal Can boosted its position in shares of Brighthouse Financial by 70.5% in the first quarter. Bank of Montreal Can now owns 14,122 shares of the company’s stock valued at $737,000 after acquiring an additional 5,841 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Brighthouse Financial by 30.2% in the first quarter. MetLife Investment Management LLC now owns 50,351 shares of the company’s stock valued at $2,601,000 after acquiring an additional 11,670 shares during the period. 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.