Analysts Set Brighthouse Financial, Inc. (NASDAQ:BHF) Price Target at $60.50

Brighthouse Financial, Inc. (NASDAQ:BHF) has received a consensus recommendation of “Reduce” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $60.50.

A number of research firms have recently weighed in on BHF. Weiss Ratings restated a “sell (d+)” rating on shares of Brighthouse Financial in a report on Friday, August 7th. Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th.

Brighthouse Financial Stock Down 0.7%

Shares of NASDAQ BHF opened at $51.90 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Brighthouse Financial has a 12-month low of $42.07 and a 12-month high of $66.80. The company’s fifty day simple moving average is $62.05 and its 200 day simple moving average is $61.83. The firm has a market cap of $2.98 billion, a PE ratio of 4.14 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing the consensus estimate of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm earned $3.43 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Brighthouse Financial will post 18.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brighthouse Financial

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in shares of Brighthouse Financial by 156.2% during the 1st quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock valued at $15,245,000 after buying an additional 160,272 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Brighthouse Financial by 835.2% in the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after buying an additional 735 shares in the last quarter. United Services Automobile Association purchased a new stake in Brighthouse Financial in the first quarter worth approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Brighthouse Financial by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company’s stock valued at $12,128,000 after acquiring an additional 13,245 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Brighthouse Financial by 12.5% during the second quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock valued at $350,000 after acquiring an additional 725 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

About Brighthouse Financial

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.