Brighthouse Financial (NASDAQ:BHF) Price Target Lowered to $56.00 at JPMorgan Chase & Co.

Brighthouse Financial (NASDAQ:BHF) had its target price lowered by JPMorgan Chase & Co. from $59.00 to $56.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other research analysts have also issued reports on BHF. Barclays raised their price target on Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Piper Sandler reduced their price target 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. Finally, Wells Fargo & Company raised their price target on Brighthouse Financial from $40.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.38.

Brighthouse Financial Stock Down 1.0 %

Shares of BHF opened at $47.75 on Tuesday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -2.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. The business’s fifty day moving average price is $49.71 and its two-hundred day moving average price is $46.85. Brighthouse Financial has a 52 week low of $40.00 and a 52 week high of $54.73.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.50 by ($0.51). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the business earned $4.18 earnings per share. On average, analysts predict that Brighthouse Financial will post 18.47 earnings per share for the current year.

Insiders Place Their Bets

In other Brighthouse Financial 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 sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its stake in shares of Brighthouse Financial by 2.2% in the 3rd quarter. State Street Corp now owns 2,314,905 shares of the company’s stock valued at $104,240,000 after purchasing an additional 50,441 shares during the period. Lighthouse Investment Partners LLC raised its stake in shares of Brighthouse Financial by 204.6% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 135,730 shares of the company’s stock valued at $5,883,000 after purchasing an additional 91,175 shares during the period. Edgestream Partners L.P. raised its stake in shares of Brighthouse Financial by 12.7% in the 2nd quarter. Edgestream Partners L.P. now owns 153,789 shares of the company’s stock valued at $6,665,000 after purchasing an additional 17,329 shares during the period. Range Financial Group LLC acquired a new stake in shares of Brighthouse Financial in the 4th quarter valued at about $826,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Brighthouse Financial by 102.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 160,399 shares of the company’s stock valued at $7,223,000 after purchasing an additional 81,040 shares during the period. 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.