Brighthouse Financial (NASDAQ:BHF) Upgraded to Buy at Jefferies Financial Group

Brighthouse Financial (NASDAQ:BHFGet Free Report) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Briefing.com reports. The brokerage currently has a $54.00 price objective on the stock, up from their prior price objective of $49.00. Jefferies Financial Group’s target price points to a potential upside of 23.49% from the stock’s current price.

A number of other brokerages have also recently weighed in on BHF. JPMorgan Chase & Co. upped their price objective on Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Piper Sandler decreased their price objective on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods upgraded Brighthouse Financial from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $48.00 to $47.00 in a research note on Monday, June 17th. Wells Fargo & Company decreased their price objective on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Finally, Evercore ISI decreased their price objective on Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.00.

Get Our Latest Stock Analysis on Brighthouse Financial

Brighthouse Financial Price Performance

Shares of BHF stock opened at $43.73 on Wednesday. Brighthouse Financial has a twelve month low of $40.24 and a twelve month high of $56.24. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -2.30 and a beta of 1.09. The stock has a fifty day simple moving average of $44.26 and a two-hundred day simple moving average of $47.87. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74.

Brighthouse Financial (NASDAQ:BHFGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.29. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business earned $2.86 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that Brighthouse Financial will post 16.16 EPS for the current fiscal year.

Insider Activity at Brighthouse Financial

In related news, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total transaction of $298,608.75. Following the transaction, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at approximately $1,876,101.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the transaction, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Inserra acquired 2,500 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average cost of $43.20 per share, for a total transaction of $108,000.00. Following the completion of the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $237,600. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. UBS Group AG increased its holdings in shares of Brighthouse Financial by 4.5% in the fourth quarter. UBS Group AG now owns 1,061,985 shares of the company’s stock valued at $56,200,000 after purchasing an additional 45,938 shares during the period. American Century Companies Inc. boosted its stake in shares of Brighthouse Financial by 21.8% in the third quarter. American Century Companies Inc. now owns 667,411 shares of the company’s stock worth $32,663,000 after buying an additional 119,345 shares during the last quarter. Norges Bank purchased a new stake in shares of Brighthouse Financial in the fourth quarter worth about $33,362,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Brighthouse Financial by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 441,234 shares of the company’s stock worth $23,350,000 after buying an additional 8,471 shares during the last quarter. Finally, Private Management Group Inc. boosted its stake in shares of Brighthouse Financial by 1.9% in the first quarter. Private Management Group Inc. now owns 340,683 shares of the company’s stock worth $17,559,000 after buying an additional 6,496 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

About Brighthouse Financial

(Get Free Report)

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.

See Also

Analyst Recommendations for Brighthouse Financial (NASDAQ:BHF)

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