Morgan Stanley Lowers Brighthouse Financial (NASDAQ:BHF) Price Target to $41.00
Brighthouse Financial (NASDAQ:BHF) had its target price lowered by investment analysts at Morgan Stanley from $43.00 to $41.00 in a research note issued on Tuesday, AnalystRatings.com reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 15.85% from the company’s current price.
Other research analysts have also issued reports about the stock. TheStreet raised shares of Brighthouse Financial from a “d+” rating to a “c-” rating in a research note on Thursday, April 25th. Bank of America reduced their target price on shares of Brighthouse Financial from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. BidaskClub raised shares of Brighthouse Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Citigroup set a $36.00 target price on shares of Brighthouse Financial and gave the company a “sell” rating in a research note on Thursday, May 23rd. Finally, Credit Suisse Group lowered shares of Brighthouse Financial from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $35.00 to $22.00 in a research note on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.89.
NASDAQ BHF opened at $35.39 on Tuesday. Brighthouse Financial has a one year low of $28.52 and a one year high of $47.33. The company has a 50-day simple moving average of $36.72 and a 200-day simple moving average of $38.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $3.94 billion, a PE ratio of 4.76, a price-to-earnings-growth ratio of 0.36 and a beta of 2.04.
In related news, EVP Myles Lambert purchased 3,000 shares of Brighthouse Financial stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $34.18 per share, with a total value of $102,540.00. Following the purchase, the executive vice president now owns 16,942 shares in the company, valued at approximately $579,077.56. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eric T. Steigerwalt purchased 12,500 shares of Brighthouse Financial stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $34.04 per share, with a total value of $425,500.00. Following the completion of the purchase, the insider now owns 111,239 shares in the company, valued at approximately $3,786,575.56. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,441 shares of company stock valued at $628,269 over the last three months. 0.23% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Brighthouse Financial in the 1st quarter worth approximately $8,335,000. Schneider Capital Management Corp lifted its stake in shares of Brighthouse Financial by 0.3% in the 1st quarter. Schneider Capital Management Corp now owns 898,411 shares of the company’s stock worth $32,603,000 after acquiring an additional 2,860 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Brighthouse Financial in the 1st quarter worth approximately $441,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Brighthouse Financial by 4.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 19,315 shares of the company’s stock worth $701,000 after purchasing an additional 860 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Brighthouse Financial by 2.7% in the 1st quarter. Swiss National Bank now owns 359,858 shares of the company’s stock worth $13,059,000 after purchasing an additional 9,400 shares in the last quarter. 92.55% of the stock is owned by institutional investors.
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 offers 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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