Brighthouse Financial (NASDAQ:BHF) Stock Dropped to Sell by Wall Street Zen

Wall Street Zen cut shares of Brighthouse Financial (NASDAQ:BHF) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. raised Brighthouse Financial from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $63.00 to $55.00 in a research note on Thursday, October 15th. Weiss Ratings lowered Brighthouse Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 10th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Brighthouse Financial from $57.00 to $55.00 and set a “market perform” rating on the stock in a research report on Thursday, October 15th. Seven research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.33.

Brighthouse Financial Stock Up 3.6%

Shares of BHF opened at $42.60 on Friday. The company has a market capitalization of $2.45 billion, a P/E ratio of 4.32, a PEG ratio of 0.57 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. Brighthouse Financial has a one year low of $41.01 and a one year high of $66.80. The business’s 50 day simple moving average is $48.80 and its 200-day simple moving average is $58.53.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Thursday, November 5th. The company reported $3.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.96 by ($1.28). Brighthouse Financial had a net margin of 11.95% and a return on equity of 21.06%. The business had revenue of $853.00 million for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business earned $4.54 earnings per share. As a group, sell-side analysts predict that Brighthouse Financial will post 18.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. New York Life Investment Management LLC lifted its holdings in Brighthouse Financial by 15.5% in the third quarter. New York Life Investment Management LLC now owns 68,807 shares of the company’s stock valued at $3,433,000 after buying an additional 9,249 shares during the period. Fulcrum Asset Management LLP acquired a new stake in Brighthouse Financial during the 3rd quarter worth $68,000. Parallel Advisors LLC grew its holdings in Brighthouse Financial by 17.2% during the 3rd quarter. Parallel Advisors LLC now owns 3,218 shares of the company’s stock worth $161,000 after acquiring an additional 472 shares during the period. Verde Servicos Internacionais S.A. bought a new stake in shares of Brighthouse Financial during the 3rd quarter valued at $349,000. Finally, Quadrant Capital Group LLC raised its position in shares of Brighthouse Financial by 104.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 12,696 shares of the company’s stock valued at $608,000 after acquiring an additional 6,488 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

About Brighthouse Financial

Brighthouse Financial, Inc (NASDAQ:BHF) is a U.S.-focused provider of annuities and life insurance products. The company serves individuals and institutions seeking solutions for retirement income, wealth preservation, protection and legacy planning.

Its annuity offerings include fixed, variable, income and registered index-linked annuities, including the Brighthouse Shield line of products. Brighthouse also provides life insurance products designed to offer death-benefit protection and, depending on the policy, cash-value accumulation and other financial-planning features.

Brighthouse Financial was established as an independent public company in 2017 after being separated from MetLife.