Brighthouse Financial (NASDAQ:BHF) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Brighthouse Financial (NASDAQ:BHF) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brighthouse Financial in a report on Monday, December 29th. Argus raised Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Barclays lowered Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock. in a research report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 price objective on shares of Brighthouse Financial in a research note on Thursday, March 26th. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $60.86.

Brighthouse Financial Price Performance

Shares of BHF opened at $59.63 on Monday. The business’s 50-day moving average is $61.88 and its two-hundred day moving average is $59.96. The company has a market capitalization of $3.41 billion, a P/E ratio of 10.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.95 and a current ratio of 0.95. Brighthouse Financial has a fifty-two week low of $42.07 and a fifty-two week high of $66.33.

Hedge Funds Weigh In On Brighthouse Financial

A number of large investors have recently bought and sold shares of BHF. NewEdge Advisors LLC boosted its position in Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after purchasing an additional 354 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after buying an additional 226 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Brighthouse Financial by 540.4% in the third quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock valued at $34,000 after buying an additional 535 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Brighthouse Financial by 225.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the period. Finally, Danske Bank A S acquired a new position in shares of Brighthouse Financial during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

About Brighthouse Financial

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.