Brighthouse Financial (NASDAQ:BHF) Hits New 12-Month Low at $40.00

Brighthouse Financial, Inc. (NASDAQ:BHF)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $40.00 and last traded at $40.44, with a volume of 82041 shares. The stock had previously closed at $41.50.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays began coverage on shares of Brighthouse Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Piper Sandler dropped their price objective on Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Evercore ISI cut their target price on Brighthouse Financial from $56.00 to $52.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group raised their price target on shares of Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.44.

Brighthouse Financial Trading Up 2.8 %

The company has a 50 day moving average of $45.30 and a 200-day moving average of $46.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.85 and a current ratio of 0.85.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the firm posted $4.13 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts predict that Brighthouse Financial, Inc. will post 18.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Edward A. Spehar sold 7,125 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total transaction of $297,397.50. Following the completion of the transaction, the chief financial officer now directly owns 37,640 shares of the company’s stock, valued at $1,571,093.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $45.22, for a total value of $226,100.00. Following the sale, the executive vice president now directly owns 91,262 shares in the company, valued at approximately $4,126,867.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total value of $297,397.50. Following the completion of the transaction, the chief financial officer now directly owns 37,640 shares of the company’s stock, valued at approximately $1,571,093.60. The disclosure for this sale can be found here. Insiders have sold 42,125 shares of company stock valued at $1,895,248 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama increased its position in shares of Brighthouse Financial by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 80,625 shares of the company’s stock valued at $4,155,000 after purchasing an additional 211 shares during the period. US Bancorp DE grew its holdings in Brighthouse Financial by 0.6% during the first quarter. US Bancorp DE now owns 35,695 shares of the company’s stock worth $1,840,000 after acquiring an additional 211 shares during the period. Quadrant Capital Group LLC raised its position in Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after acquiring an additional 303 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Brighthouse Financial by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,187 shares of the company’s stock valued at $1,280,000 after purchasing an additional 388 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Brighthouse Financial by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 15,768 shares of the company’s stock worth $813,000 after purchasing an additional 400 shares during the last quarter. 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.