Brighthouse Financial (NASDAQ:BHF) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Brighthouse Financial (NASDAQ:BHF) from an underweight rating to a neutral rating in a research report report published on Thursday morning, Marketbeat.com reports. They currently have $55.00 target price on the stock, down from their previous target price of $63.00.

A number of other analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods decreased their price objective on shares of Brighthouse Financial from $57.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday. Finally, Weiss Ratings cut shares of Brighthouse Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 10th. Seven research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.25.

Brighthouse Financial Stock Performance

BHF stock opened at $47.77 on Thursday. Brighthouse Financial has a twelve month low of $44.51 and a twelve month high of $66.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The company has a market cap of $2.75 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 0.63 and a beta of 0.83. The business’s fifty day moving average is $52.05 and its 200-day moving average is $58.94.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the firm earned $3.43 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts forecast that Brighthouse Financial will post 18.84 EPS for the current year.

Hedge Funds Weigh In On Brighthouse Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Brighthouse Financial during the 2nd quarter worth approximately $27,000. Bessemer Group Inc. boosted its holdings in shares of Brighthouse Financial by 390.3% in the first quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after buying an additional 402 shares during the period. Mather Group LLC. increased its position in shares of Brighthouse Financial by 8,900.0% during the third quarter. Mather Group LLC. now owns 630 shares of the company’s stock worth $31,000 after acquiring an additional 623 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Brighthouse Financial during the second quarter worth $49,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Brighthouse Financial during the second quarter worth $55,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

About Brighthouse Financial

Brighthouse Financial, Inc (NASDAQ: BHF) is a U.S.-based insurance holding company that provides annuities and life insurance products designed to help individuals and families address retirement income, financial protection and legacy-planning needs. The company primarily serves retail customers through independent distribution partners, including financial professionals and insurance agencies.

Brighthouse Financial’s offerings include fixed, variable and index-linked annuities, as well as life insurance products such as term life, universal life and variable universal life insurance.