Brighthouse Financial (NASDAQ:BHF) had its price objective lowered by Morgan Stanley from $43.00 to $41.00 in a report published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has an equal weight rating on the stock.
Several other brokerages have also commented on BHF. Goldman Sachs Group lowered shares of Brighthouse Financial from a neutral rating to a sell rating and decreased their price objective for the company from $39.00 to $32.00 in a research report on Tuesday, June 25th. BidaskClub raised shares of Brighthouse Financial from a hold rating to a buy rating in a research report on Tuesday, July 16th. Zacks Investment Research lowered shares of Brighthouse Financial from a buy rating to a hold rating in a research report on Tuesday, May 21st. Citigroup set a $36.00 price objective on shares of Brighthouse Financial and gave the company a sell rating in a research report on Thursday, May 23rd. Finally, Bank of America decreased their price objective on shares of Brighthouse Financial from $42.00 to $38.00 and set a neutral rating for the company in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $37.89.
BHF stock opened at $35.60 on Tuesday. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 4.18, a PEG ratio of 0.36 and a beta of 2.04. The firm has a 50-day simple moving average of $36.70 and a two-hundred day simple moving average of $38.19. Brighthouse Financial has a one year low of $28.52 and a one year high of $47.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.52 and a current ratio of 0.52.
Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Monday, August 5th. The company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.33. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.03 billion. Brighthouse Financial had a net margin of 9.61% and a return on equity of 6.74%. During the same period in the prior year, the firm posted $1.68 earnings per share. As a group, equities analysts predict that Brighthouse Financial will post 8.67 earnings per share for the current fiscal year.
In other Brighthouse Financial news, Director Margaret M. Mccarthy purchased 2,941 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average price of $34.08 per share, for a total transaction of $100,229.28. Following the acquisition, the director now owns 4,423 shares in the company, valued at $150,735.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Myles Lambert purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $34.18 per share, for a total transaction of $102,540.00. Following the acquisition, the executive vice president now owns 16,942 shares in the company, valued at approximately $579,077.56. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,441 shares of company stock worth $628,269. 0.23% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Brighthouse Financial by 25.6% during the 2nd quarter. BlackRock Inc. now owns 11,820,754 shares of the company’s stock worth $433,707,000 after purchasing an additional 2,412,741 shares during the period. Geode Capital Management LLC grew its stake in shares of Brighthouse Financial by 10.0% during the 4th quarter. Geode Capital Management LLC now owns 1,755,585 shares of the company’s stock worth $53,431,000 after purchasing an additional 159,787 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Brighthouse Financial by 37.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,593,115 shares of the company’s stock worth $58,451,000 after purchasing an additional 436,557 shares during the period. AQR Capital Management LLC grew its stake in shares of Brighthouse Financial by 3,835.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,198,214 shares of the company’s stock worth $43,184,000 after purchasing an additional 1,167,764 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Brighthouse Financial by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 941,405 shares of the company’s stock worth $28,700,000 after purchasing an additional 106,333 shares during the period. Institutional investors own 92.55% 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 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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