Brighthouse Financial (NASDAQ:BHF – Get Free Report) had its price target upped by Piper Sandler from $44.00 to $47.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 6.96% from the stock’s current price.
A number of other equities analysts also recently weighed in on BHF. JPMorgan Chase & Co. upped their target price on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods cut their target price on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Wells Fargo & Company cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $51.00 to $40.00 in a report on Monday, August 12th. Barclays assumed coverage on shares of Brighthouse Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price target on the stock. Finally, Jefferies Financial Group lifted their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.50.
Brighthouse Financial Trading Down 0.7 %
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $5.57 EPS for the quarter, topping the consensus estimate of $4.36 by $1.21. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Brighthouse Financial had a positive return on equity of 26.22% and a negative net margin of 22.03%. Brighthouse Financial’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.13 earnings per share. Research analysts forecast that Brighthouse Financial will post 18.16 EPS for the current year.
Insiders Place Their Bets
In related news, EVP John Rosenthal sold 5,000 shares of the firm’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 value of $230,000.00. Following the transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 96,262 shares in the company, valued at approximately $4,428,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward A. Spehar sold 7,125 shares of Brighthouse Financial stock in a transaction on 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 in the company, valued at approximately $1,571,093.60. The disclosure for this sale can be found here. Insiders have sold 42,125 shares of company stock valued at $1,895,248 over the last three months. 1.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Brighthouse Financial
Several hedge funds and other institutional investors have recently modified their holdings of BHF. Quarry LP bought a new stake in Brighthouse Financial in the 2nd quarter valued at $89,000. EntryPoint Capital LLC bought a new stake in shares of Brighthouse Financial in the first quarter valued at about $110,000. Central Pacific Bank Trust Division acquired a new stake in Brighthouse Financial during the first quarter worth about $169,000. EMC Capital Management increased its stake in Brighthouse Financial by 216.0% during the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after acquiring an additional 2,581 shares during the period. Finally, Innealta Capital LLC acquired a new position in Brighthouse Financial in the 1st quarter valued at approximately $294,000. Institutional investors and hedge funds 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.
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