Brighthouse Financial (NASDAQ:BHF) Price Target Raised to $60.00 at Piper Sandler

Brighthouse Financial (NASDAQ:BHF) had its price target upped by stock analysts at Piper Sandler from $52.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 3.73% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Barclays upgraded Brighthouse Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $52.00 to $85.00 in a report on Wednesday, January 29th. Jefferies Financial Group downgraded Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company lowered their price target on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.75.

Brighthouse Financial Stock Performance

BHF traded down $0.65 during trading hours on Thursday, reaching $57.84. The company’s stock had a trading volume of 111,493 shares, compared to its average volume of 690,758. The company’s 50-day moving average is $51.47 and its 200-day moving average is $48.32. Brighthouse Financial has a 52 week low of $40.00 and a 52 week high of $64.00. The firm has a market cap of $3.43 billion, a PE ratio of -2.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $5.88 earnings per share for the quarter, beating the consensus estimate of $4.56 by $1.32. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. On average, equities analysts forecast that Brighthouse Financial will post 18.2 EPS for the current year.

Insider Buying and Selling at Brighthouse Financial

In related news, EVP Myles Lambert sold 8,400 shares of the business’s 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 directly owns 33,407 shares of the company’s stock, valued at $1,727,141.90. The trade was a 20.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the transaction, the executive vice president now directly owns 66,262 shares in the company, valued at approximately $4,041,982. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. grew its position in Brighthouse Financial by 2.7% in the 4th quarter. Xponance Inc. now owns 6,860 shares of the company’s stock valued at $330,000 after purchasing an additional 181 shares during the period. Amalgamated Bank grew its holdings in shares of Brighthouse Financial by 0.8% during the fourth quarter. Amalgamated Bank now owns 28,345 shares of the company’s stock valued at $1,362,000 after buying an additional 227 shares during the last quarter. US Bancorp DE increased its position in shares of Brighthouse Financial by 0.9% during the third quarter. US Bancorp DE now owns 35,755 shares of the company’s stock worth $1,610,000 after acquiring an additional 319 shares in the last quarter. CWM LLC raised its holdings in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after acquiring an additional 339 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Brighthouse Financial by 0.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 72,872 shares of the company’s stock worth $3,501,000 after acquiring an additional 388 shares during the last quarter. Institutional investors 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.