Wells Fargo & Company Has Lowered Expectations for Brighthouse Financial (NASDAQ:BHF) Stock Price

Brighthouse Financial (NASDAQ:BHF) had its target price trimmed by Wells Fargo & Company from $42.00 to $41.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Other research analysts have also issued reports about the company. Piper Sandler cut their price objective on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Barclays raised their price target on shares of Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped 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, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.38.

Brighthouse Financial Stock Up 1.1 %

BHF stock opened at $50.11 on Tuesday. The stock has a market capitalization of $2.97 billion, a PE ratio of -2.46 and a beta of 1.08. Brighthouse Financial has a 52 week low of $40.00 and a 52 week high of $54.73. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $49.59 and a 200 day moving average of $46.99.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $3.99 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 for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm posted $4.18 earnings per share. Sell-side analysts forecast that Brighthouse Financial will post 18.2 earnings per share for the current year.

Insider Activity

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the transaction, the executive vice president now owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. The trade was a 20.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

Several hedge funds have recently modified their holdings of BHF. Victory Capital Management Inc. raised its holdings in Brighthouse Financial by 5.3% in the 2nd quarter. Victory Capital Management Inc. now owns 30,027 shares of the company’s stock worth $1,301,000 after purchasing an additional 1,522 shares during the period. Federated Hermes Inc. increased its position in shares of Brighthouse Financial by 13.3% in the second quarter. Federated Hermes Inc. now owns 15,148 shares of the company’s stock valued at $657,000 after buying an additional 1,783 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Brighthouse Financial by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 40,032 shares of the company’s stock worth $1,735,000 after buying an additional 3,681 shares during the period. Edgestream Partners L.P. lifted its position in shares of Brighthouse Financial by 12.7% during the 2nd quarter. Edgestream Partners L.P. now owns 153,789 shares of the company’s stock valued at $6,665,000 after buying an additional 17,329 shares in the last quarter. Finally, Seven Eight Capital LP grew its stake in Brighthouse Financial by 5.3% in the 2nd quarter. Seven Eight Capital LP now owns 29,553 shares of the company’s stock valued at $1,281,000 after acquiring an additional 1,490 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.