Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $70.00

Brighthouse Financial (NASDAQ:BHF) had its price objective increased by Keefe, Bruyette & Woods from $50.00 to $70.00 in a research note published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

BHF has been the topic of several other reports. Wells Fargo & Company raised their price target on shares of Brighthouse Financial from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and set a $53.00 price objective on shares of Brighthouse Financial in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Brighthouse Financial in a research report on Tuesday, October 14th. Morgan Stanley set a $70.00 price target on Brighthouse Financial in a report on Thursday. Finally, Barclays reduced their price target on Brighthouse Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.70.

Brighthouse Financial Price Performance

BHF stock opened at $66.01 on Friday. The stock’s 50 day moving average price is $49.92 and its 200 day moving average price is $52.20. The firm has a market cap of $3.77 billion, a P/E ratio of 4.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 0.95. Brighthouse Financial has a 1 year low of $42.07 and a 1 year high of $66.09.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Thursday, November 6th. The company reported $4.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.09 by ($0.55). The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Brighthouse Financial had a net margin of 15.39% and a return on equity of 20.59%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.99 earnings per share. On average, sell-side analysts expect that Brighthouse Financial will post 20.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHF. Rothschild Investment LLC raised its holdings in shares of Brighthouse Financial by 4,488.6% in the 3rd quarter. Rothschild Investment LLC now owns 2,019 shares of the company’s stock worth $107,000 after purchasing an additional 1,975 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in Brighthouse Financial by 43.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 45,822 shares of the company’s stock valued at $2,432,000 after buying an additional 13,774 shares during the period. Four Tree Island Advisory LLC lifted its position in Brighthouse Financial by 85.6% during the third quarter. Four Tree Island Advisory LLC now owns 22,762 shares of the company’s stock valued at $1,210,000 after buying an additional 10,500 shares in the last quarter. Waterfront Wealth Inc. acquired a new position in Brighthouse Financial during the third quarter valued at approximately $1,851,000. Finally, Carlson Capital L.P. purchased a new stake in Brighthouse Financial during the third quarter worth approximately $796,000. 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.