Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $60.00

Brighthouse Financial (NASDAQ:BHF) had its price target boosted by Piper Sandler from $52.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 3.44% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company decreased their price objective on Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Barclays raised shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $85.00 in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on shares of Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group lowered Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.75.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $62.14 on Thursday. The company has a market capitalization of $3.69 billion, a PE ratio of -3.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. Brighthouse Financial has a 52-week low of $40.00 and a 52-week high of $64.00. The company has a 50-day simple moving average of $51.84 and a 200 day simple moving average of $48.49.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $5.88 EPS for the quarter, topping analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. On average, research analysts predict that Brighthouse Financial will post 18.2 EPS for the current year.

Insider Buying and Selling

In related news, EVP Myles Lambert sold 8,400 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total value of $434,280.00. Following the sale, the executive vice president now owns 33,407 shares in the company, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Rosenthal sold 10,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president now owns 66,262 shares in the company, valued at $4,041,982. This trade represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board raised its position in shares of Brighthouse Financial by 187.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,823,162 shares of the company’s stock valued at $87,585,000 after buying an additional 1,188,685 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Brighthouse Financial by 2,632.8% in the 4th quarter. Victory Capital Management Inc. now owns 884,162 shares of the company’s stock worth $42,475,000 after purchasing an additional 851,808 shares in the last quarter. Norges Bank purchased a new position in shares of Brighthouse Financial in the 4th quarter worth about $37,131,000. AQR Capital Management LLC boosted its holdings in shares of Brighthouse Financial by 156.9% in the 4th quarter. AQR Capital Management LLC now owns 656,464 shares of the company’s stock worth $31,537,000 after purchasing an additional 400,924 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Brighthouse Financial by 12.1% in the 4th quarter. American Century Companies Inc. now owns 1,682,076 shares of the company’s stock worth $80,807,000 after purchasing an additional 181,980 shares in the last quarter. Hedge funds and other institutional investors 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.