Brighthouse Financial (NASDAQ:BHF) Stock Rating Upgraded by Jefferies Financial Group

Brighthouse Financial (NASDAQ:BHFGet Free Report) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage currently has a $54.00 target price on the stock, up from their prior target price of $49.00. Jefferies Financial Group’s target price points to a potential upside of 23.49% from the stock’s previous close.

BHF has been the topic of several other reports. Wells Fargo & Company decreased their price objective on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Evercore ISI decreased their price objective on shares of Brighthouse Financial from $59.00 to $56.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. Piper Sandler decreased their price objective on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Keefe, Bruyette & Woods upgraded shares of Brighthouse Financial from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $48.00 to $47.00 in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brighthouse Financial from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.00.

Read Our Latest Report on Brighthouse Financial

Brighthouse Financial Stock Performance

NASDAQ:BHF opened at $43.73 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. Brighthouse Financial has a fifty-two week low of $40.24 and a fifty-two week high of $56.24. The stock has a market cap of $2.72 billion, a PE ratio of -2.30 and a beta of 1.09. The firm’s fifty day simple moving average is $44.26 and its 200-day simple moving average is $47.87.

Brighthouse Financial (NASDAQ:BHFGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.29. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $2.86 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts expect that Brighthouse Financial will post 16.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Brighthouse Financial

In other news, Director Michael J. Inserra acquired 2,500 shares of the stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $237,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael J. Inserra acquired 2,500 shares of the stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $237,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total transaction of $298,608.75. Following the completion of the sale, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Brighthouse Financial

A number of hedge funds have recently made changes to their positions in BHF. Lindbrook Capital LLC grew its position in shares of Brighthouse Financial by 412.3% during the fourth quarter. Lindbrook Capital LLC now owns 543 shares of the company’s stock worth $29,000 after buying an additional 437 shares in the last quarter. Blue Trust Inc. grew its position in shares of Brighthouse Financial by 123.2% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the company’s stock worth $36,000 after buying an additional 404 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Brighthouse Financial during the fourth quarter worth approximately $60,000. Quadrant Capital Group LLC lifted its stake in Brighthouse Financial by 36.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after purchasing an additional 303 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in Brighthouse Financial by 23.0% during the fourth quarter. Quent Capital LLC now owns 2,046 shares of the company’s stock worth $108,000 after purchasing an additional 382 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

About Brighthouse Financial

(Get Free Report)

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.

See Also

Analyst Recommendations for Brighthouse Financial (NASDAQ:BHF)

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