Brighthouse Financial (NASDAQ:BHF) Downgraded by Zacks Research to “Strong Sell”

Brighthouse Financial (NASDAQ:BHF) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently commented on the company. Argus raised Brighthouse Financial to a “hold” rating in a research report on Thursday, March 26th. Barclays lowered Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price target on the stock. in a research report on Thursday, January 8th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $67.00 price objective on shares of Brighthouse Financial in a research note on Thursday, March 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brighthouse Financial in a research report on Monday, December 29th. Eight analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Brighthouse Financial presently has an average rating of “Reduce” and a consensus target price of $60.86.

Brighthouse Financial Trading Down 0.1%

NASDAQ BHF opened at $59.88 on Monday. The firm’s 50 day moving average price is $61.97 and its two-hundred day moving average price is $59.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.95 and a current ratio of 0.95. Brighthouse Financial has a twelve month low of $42.07 and a twelve month high of $66.33. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 10.32 and a beta of 0.96.

Hedge Funds Weigh In On Brighthouse Financial

Several institutional investors and hedge funds have recently modified their holdings of BHF. Mercer Global Advisors Inc. ADV increased its stake in shares of Brighthouse Financial by 0.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,346 shares of the company’s stock worth $1,772,000 after acquiring an additional 183 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in shares of Brighthouse Financial by 0.6% during the fourth quarter. Waterfront Wealth Inc. now owns 35,055 shares of the company’s stock worth $2,255,000 after acquiring an additional 192 shares in the last quarter. Four Tree Island Advisory LLC boosted its position in Brighthouse Financial by 1.8% during the second quarter. Four Tree Island Advisory LLC now owns 12,262 shares of the company’s stock valued at $659,000 after purchasing an additional 214 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Brighthouse Financial by 66.5% during the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after purchasing an additional 226 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in Brighthouse Financial by 0.9% in the fourth quarter. J.W. Cole Advisors Inc. now owns 32,275 shares of the company’s stock valued at $2,090,000 after purchasing an additional 273 shares in the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.