Brighthouse Financial, Inc. (NASDAQ:BHF) Receives $63.70 Average Price Target from Brokerages

Shares of Brighthouse Financial, Inc. (NASDAQ:BHF) have earned a consensus recommendation of “Reduce” from the eleven research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $63.70.

A number of brokerages have recently weighed in on BHF. Weiss Ratings reiterated a “hold (c)” rating on shares of Brighthouse Financial in a report on Monday, December 8th. Piper Sandler reaffirmed a “neutral” rating and set a $53.00 price objective on shares of Brighthouse Financial in a research report on Tuesday, October 7th. Raymond James Financial reissued a “market perform” rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods increased their price objective on Brighthouse Financial from $50.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Finally, Evercore ISI reduced their price objective on Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th.

Brighthouse Financial Stock Performance

Brighthouse Financial stock opened at $65.35 on Friday. Brighthouse Financial has a fifty-two week low of $42.07 and a fifty-two week high of $66.33. The firm’s 50 day simple moving average is $58.05 and its 200-day simple moving average is $53.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $3.74 billion, a P/E ratio of 4.46 and a beta of 0.97.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Friday, November 7th. The company reported $4.54 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.55). Brighthouse Financial had a return on equity of 20.59% and a net margin of 15.39%.The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $3.99 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, equities research analysts predict that Brighthouse Financial will post 20.32 EPS for the current year.

Hedge Funds Weigh In On Brighthouse Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of Brighthouse Financial by 66.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after purchasing an additional 226 shares in the last quarter. Clearstead Advisors LLC increased its position in Brighthouse Financial by 540.4% during the third quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock worth $34,000 after buying an additional 535 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Brighthouse Financial by 225.5% during the third quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock valued at $35,000 after buying an additional 460 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Brighthouse Financial in the third quarter worth about $37,000. Finally, IFP Advisors Inc lifted its position in shares of Brighthouse Financial by 1,900.0% in the second quarter. IFP Advisors Inc now owns 740 shares of the company’s stock worth $40,000 after buying an additional 703 shares during the last quarter. Institutional investors and hedge funds 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.