Brighthouse Financial (NASDAQ:BHF) Sees Large Volume Increase – Time to Buy?

Brighthouse Financial, Inc. (NASDAQ:BHF) shares saw unusually-strong trading volume on Tuesday . Approximately 875,172 shares traded hands during trading, an increase of 193% from the previous session’s volume of 298,403 shares.The stock last traded at $61.66 and had previously closed at $51.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Barclays raised Brighthouse Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $85.00 in a research note on Wednesday. Piper Sandler cut their target price on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods increased their price target on Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Brighthouse Financial has an average rating of “Hold” and an average price target of $57.63.

Brighthouse Financial Stock Performance

The stock has a fifty day moving average of $49.89 and a 200 day moving average of $47.54. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Thursday, November 7th. The company reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.21 billion. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. During the same quarter in the previous year, the firm earned $4.18 earnings per share. Research analysts anticipate that Brighthouse Financial, Inc. will post 18.2 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

A number of large investors have recently made changes to their positions in the stock. UMB Bank n.a. boosted its stake in Brighthouse Financial by 974.1% in the 3rd quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after purchasing an additional 565 shares during the period. Venturi Wealth Management LLC boosted its position in shares of 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 acquiring an additional 564 shares during the period. CWM LLC grew its stake in Brighthouse Financial by 29.4% during the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares in the last quarter. GAMMA Investing LLC increased its holdings in Brighthouse Financial by 97.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after acquiring an additional 855 shares during the period. Finally, Quarry LP purchased a new stake in Brighthouse Financial in the 2nd quarter worth approximately $89,000. 81.24% of the stock is owned by institutional investors.

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.