Brighthouse Financial (NASDAQ:BHF) Price Target Lowered to $50.00 at Wells Fargo & Company

Brighthouse Financial (NASDAQ:BHF) had its target price cut by investment analysts at Wells Fargo & Company from $51.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.39% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research report on Friday, February 23rd. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $50.00 target price on shares of Brighthouse Financial in a research note on Friday, February 16th. Finally, Piper Sandler decreased their price target on shares of Brighthouse Financial from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Brighthouse Financial has an average rating of “Hold” and a consensus price target of $50.29.

Brighthouse Financial Price Performance

Shares of BHF stock traded down $0.44 during midday trading on Friday, reaching $46.13. 161,602 shares of the company were exchanged, compared to its average volume of 460,301. The company’s 50 day moving average price is $48.57 and its two-hundred day moving average price is $49.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $2.88 billion, a P/E ratio of -2.46 and a beta of 1.14. Brighthouse Financial has a 12 month low of $39.37 and a 12 month high of $56.24.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.29. Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company posted $2.86 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Brighthouse Financial will post 17.12 earnings per share for the current year.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial news, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.85, for a total transaction of $468,500.00. Following the completion of the sale, the executive vice president now owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $46.96, for a total value of $1,174,000.00. Following the transaction, the chief executive officer now directly owns 390,765 shares in the company, valued at approximately $18,350,324.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $46.85, for a total value of $468,500.00. Following the completion of the transaction, the executive vice president now directly owns 27,080 shares in the company, valued at $1,268,698. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

A number of hedge funds have recently made changes to their positions in BHF. Private Management Group Inc. boosted its position in Brighthouse Financial by 1.9% in the 1st quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock valued at $17,559,000 after buying an additional 6,496 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Brighthouse Financial by 39.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 84,570 shares of the company’s stock worth $4,359,000 after acquiring an additional 23,922 shares during the period. Entropy Technologies LP bought a new stake in shares of Brighthouse Financial during the 1st quarter valued at $370,000. US Bancorp DE boosted its position in shares of Brighthouse Financial by 0.6% in the 1st quarter. US Bancorp DE now owns 35,695 shares of the company’s stock worth $1,840,000 after purchasing an additional 211 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Brighthouse Financial by 0.9% during the first quarter. Russell Investments Group Ltd. now owns 226,045 shares of the company’s stock worth $11,650,000 after purchasing an additional 1,942 shares during the period. Institutional investors and hedge funds own 81.24% 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 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.