Brighthouse Financial (NASDAQ:BHF) Shares Gap Down – Here’s Why

Brighthouse Financial, Inc. (NASDAQ:BHF)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $57.89, but opened at $56.13. Brighthouse Financial shares last traded at $57.98, with a volume of 174,777 shares traded.

Analysts Set New Price Targets

BHF has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of Brighthouse Financial from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group lowered Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on Brighthouse Financial from $59.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Morgan Stanley lowered their target price on Brighthouse Financial from $52.00 to $41.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. Finally, Piper Sandler upped their price target on Brighthouse Financial from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.10.

Brighthouse Financial Stock Performance

The stock’s 50 day moving average price is $54.60 and its two-hundred day moving average price is $53.16. The firm has a market capitalization of $3.39 billion, a PE ratio of 11.38 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.79 by ($0.62). Brighthouse Financial had a net margin of 8.21% and a return on equity of 26.94%. Brighthouse Financial’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.25 earnings per share. On average, equities analysts expect that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Institutional Investors Weigh In On Brighthouse Financial

Several hedge funds have recently modified their holdings of the company. Versant Capital Management Inc boosted its position in Brighthouse Financial by 188.0% during the first quarter. Versant Capital Management Inc now owns 622 shares of the company’s stock worth $36,000 after acquiring an additional 406 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of Brighthouse Financial by 327.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company’s stock worth $44,000 after purchasing an additional 703 shares during the period. UMB Bank n.a. boosted its holdings in shares of Brighthouse Financial by 101.7% during the first quarter. UMB Bank n.a. now owns 1,200 shares of the company’s stock worth $70,000 after purchasing an additional 605 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of Brighthouse Financial in the fourth quarter valued at $94,000. Finally, GAMMA Investing LLC increased its stake in Brighthouse Financial by 11.0% in the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company’s stock valued at $118,000 after purchasing an additional 202 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

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.