Wells Fargo & Company Cuts Brighthouse Financial (NASDAQ:BHF) Price Target to $41.00

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

A number of other equities analysts have also recently issued reports on the company. Piper Sandler dropped their price objective on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target 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. Finally, Barclays lifted their price objective on shares of Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.38.

Brighthouse Financial Trading Up 1.1 %

BHF stock opened at $50.11 on Tuesday. Brighthouse Financial has a twelve month low of $40.00 and a twelve month high of $54.73. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -2.46 and a beta of 1.08. 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’s fifty day simple moving average is $49.59 and its two-hundred day simple moving average is $46.99.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the company earned $4.18 earnings per share. As a group, analysts anticipate that Brighthouse Financial will post 18.2 earnings per share for the current year.

Insider Transactions at Brighthouse Financial

In other news, EVP Myles Lambert sold 8,400 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Brighthouse Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in shares of Brighthouse Financial by 974.1% during the third quarter. UMB Bank n.a. now owns 623 shares of the company’s stock valued at $28,000 after buying an additional 565 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Brighthouse Financial by 989.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after acquiring an additional 564 shares in the last quarter. CWM LLC lifted its position in Brighthouse Financial by 29.4% during the third quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after acquiring an additional 339 shares during the last quarter. GAMMA Investing LLC boosted its stake in Brighthouse Financial by 97.8% in the third quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock valued at $78,000 after acquiring an additional 855 shares in the last quarter. Finally, Quarry LP purchased a new position in Brighthouse Financial in the second quarter worth $89,000. Institutional investors own 81.24% of the company’s stock.

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.