Brighthouse Financial (NASDAQ:BHF) Lowered to Underweight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Brighthouse Financial (NASDAQ:BHF) from an equal weight rating to an underweight rating in a research note published on Monday, Marketbeat Ratings reports. They currently have $40.00 price target on the stock, down from their previous price target of $51.00.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Brighthouse Financial from $58.00 to $59.00 and gave the company an underweight rating in a report on Tuesday, July 2nd. Evercore ISI cut their target price on shares of Brighthouse Financial from $56.00 to $52.00 and set an in-line rating on the stock in a research note on Thursday, August 8th. Piper Sandler decreased their price target on shares of Brighthouse Financial from $50.00 to $45.00 and set a neutral rating for the company in a research report on Friday, June 28th. Jefferies Financial Group upped their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the stock a buy rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upgraded Brighthouse Financial from an underperform rating to a market perform rating and cut their price target for the stock from $48.00 to $47.00 in a report on Monday, June 17th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Brighthouse Financial has an average rating of Hold and an average price target of $50.00.

Brighthouse Financial Trading Up 2.0 %

Shares of Brighthouse Financial stock opened at $42.17 on Monday. Brighthouse Financial has a twelve month low of $40.24 and a twelve month high of $56.24. The firm’s 50-day moving average price is $44.78 and its 200 day moving average price is $46.85. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $2.62 billion, a PE ratio of -2.21 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating the consensus estimate of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the company posted $4.13 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Brighthouse Financial will post 15.01 EPS for the current fiscal year.

Insider Activity at Brighthouse Financial

In related news, Director Michael J. Inserra acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at $237,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP John Rosenthal sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at approximately $4,428,052. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Inserra bought 2,500 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the acquisition, the director now directly owns 5,500 shares in the company, valued at approximately $237,600. The disclosure for this purchase can be found here. Insiders sold a total of 19,250 shares of company stock worth $826,006 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

Large investors have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its position in shares of Brighthouse Financial by 412.3% in the fourth quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock valued at $29,000 after buying an additional 437 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Brighthouse Financial during the 4th quarter worth $60,000. Quadrant Capital Group LLC boosted its holdings in shares of Brighthouse Financial by 36.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Brighthouse Financial in the first quarter valued at $110,000. Finally, Bfsg LLC acquired a new position in Brighthouse Financial in the fourth quarter valued at $167,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

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.