Brokerages Set Brighthouse Financial, Inc. (NASDAQ:BHF) Target Price at $50.63

Brighthouse Financial, Inc. (NASDAQ:BHF) has been assigned a consensus recommendation of “Reduce” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $50.63.

BHF has been the topic of a number of research reports. Piper Sandler boosted their price objective on shares of Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their price objective on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their target price on Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. Barclays initiated coverage on Brighthouse Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $48.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th.

Insiders Place Their Bets

In other news, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $46.04, for a total value of $196,360.60. Following the completion of the sale, the executive vice president now directly owns 86,262 shares in the company, valued at approximately $3,971,502.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Brighthouse Financial news, CEO Eric T. Steigerwalt sold 25,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.67, for a total transaction of $1,141,750.00. Following the sale, the chief executive officer now directly owns 321,072 shares in the company, valued at $14,663,358.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Rosenthal sold 4,265 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the completion of the transaction, the executive vice president now directly owns 86,262 shares in the company, valued at approximately $3,971,502.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,390 shares of company stock worth $1,861,608 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brighthouse Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. grew its holdings in shares of Brighthouse Financial by 974.1% during the 3rd quarter. UMB Bank n.a. now owns 623 shares of the company’s stock valued at $28,000 after purchasing an additional 565 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Brighthouse Financial by 989.5% in the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after buying an additional 564 shares in the last quarter. CWM LLC boosted its position in Brighthouse Financial by 29.4% in the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after buying an additional 339 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Brighthouse Financial by 97.8% during the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after buying an additional 855 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Brighthouse Financial during the second quarter worth $89,000. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF opened at $50.51 on Friday. The company has a fifty day moving average price of $45.82 and a 200 day moving average price of $45.38. The firm has a market cap of $3.07 billion, a PE ratio of -3.17 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75. Brighthouse Financial has a 1-year low of $40.00 and a 1-year high of $56.24.

Brighthouse Financial Company Profile

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.