Brighthouse Financial (NASDAQ:BHF) Price Target Lowered to $41.00 at Wells Fargo & Company

Brighthouse Financial (NASDAQ:BHF) had its price objective decreased by analysts at Wells Fargo & Company from $42.00 to $41.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 12.69% from the stock’s current price.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Piper Sandler decreased their price target on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, Barclays increased their price objective on Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.38.

Brighthouse Financial Price Performance

NASDAQ:BHF traded up $0.52 during trading hours on Tuesday, reaching $46.96. 16,702 shares of the company’s stock were exchanged, compared to its average volume of 241,063. The company has a market capitalization of $2.79 billion, a P/E ratio of -2.31 and a beta of 1.08. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $54.73. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $49.65 and its two-hundred day simple moving average is $46.94.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same period last year, the company posted $4.18 earnings per share. Sell-side analysts expect that Brighthouse Financial will post 18.47 EPS for the current fiscal year.

Insider Buying and Selling at Brighthouse Financial

In related news, EVP Myles Lambert sold 8,400 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

A number of large investors have recently bought and sold shares of BHF. Range Financial Group LLC bought a new stake in Brighthouse Financial during the fourth quarter worth about $826,000. Geode Capital Management LLC grew its position in shares of Brighthouse Financial by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,091,462 shares of the company’s stock valued at $49,160,000 after purchasing an additional 8,004 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Brighthouse Financial by 20.3% during the third quarter. XTX Topco Ltd now owns 27,974 shares of the company’s stock worth $1,260,000 after purchasing an additional 4,726 shares during the period. Weiss Asset Management LP acquired a new stake in Brighthouse Financial during the 3rd quarter worth approximately $782,000. Finally, Two Sigma Advisers LP boosted its stake in Brighthouse Financial by 12.6% in the 3rd quarter. Two Sigma Advisers LP now owns 320,700 shares of the company’s stock valued at $14,441,000 after purchasing an additional 35,800 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.