Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $59.00

Brighthouse Financial (NASDAQ:BHF) had its target price hoisted by Keefe, Bruyette & Woods from $56.00 to $59.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other brokerages have also recently commented on BHF. Jefferies Financial Group cut Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a report on Monday, February 3rd. Barclays upped their price target on Brighthouse Financial from $75.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Morgan Stanley lowered their price objective on Brighthouse Financial from $52.00 to $41.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company reduced their target price on shares of Brighthouse Financial from $59.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, Raymond James raised shares of Brighthouse Financial from a “market perform” rating to a “strong-buy” rating and set a $72.00 price target on the stock in a report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.40.

Brighthouse Financial Trading Up 0.6%

Brighthouse Financial stock opened at $59.70 on Tuesday. The business has a 50-day simple moving average of $55.05 and a two-hundred day simple moving average of $53.44. Brighthouse Financial has a 52-week low of $40.00 and a 52-week high of $64.12. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.44 billion, a P/E ratio of 11.57 and a beta of 0.96.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Thursday, May 8th. The company reported $4.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.55). Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the firm posted $4.25 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts predict that Brighthouse Financial will post 20.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHF. Versant Capital Management Inc lifted its holdings in shares of Brighthouse Financial by 188.0% in the first quarter. Versant Capital Management Inc now owns 622 shares of the company’s stock worth $36,000 after buying an additional 406 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in Brighthouse Financial by 327.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company’s stock valued at $44,000 after acquiring an additional 703 shares during the last quarter. Brooklyn Investment Group lifted its stake in Brighthouse Financial by 42.0% in the 1st quarter. Brooklyn Investment Group now owns 764 shares of the company’s stock worth $44,000 after purchasing an additional 226 shares in the last quarter. UMB Bank n.a. lifted its stake in Brighthouse Financial by 101.7% in the 1st quarter. UMB Bank n.a. now owns 1,200 shares of the company’s stock worth $70,000 after purchasing an additional 605 shares in the last quarter. Finally, Siemens Fonds Invest GmbH bought a new position in shares of Brighthouse Financial during the 4th quarter valued at about $94,000. 81.24% of the stock is currently owned by institutional investors.

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.