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Brighthouse Financial, Inc. (NASDAQ:BHF – Get Free Report) reached a new 52-week high during trading on Wednesday after Wells Fargo & Company upgraded the stock from an underweight rating to an equal weight rating. Wells Fargo & Company now has a $59.00 price target on the stock, up from their previous price target of $41.00. Brighthouse Financial traded as high as $64.12 and last traded at $63.32, with a volume of 49864 shares trading hands. The stock had previously closed at $62.81.
Several other research firms have also weighed in on BHF. Keefe, Bruyette & Woods increased 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 note on Tuesday. JPMorgan Chase & Co. dropped their price target on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Barclays raised Brighthouse Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $85.00 in a report on Wednesday, January 29th. Jefferies Financial Group downgraded Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their price target on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.75.
Insider Transactions at Brighthouse Financial
In related news, EVP John Rosenthal sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president now owns 66,262 shares in the company, valued at $4,041,982. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Institutional Investors Weigh In On Brighthouse Financial
Large investors have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock valued at $67,000 after purchasing an additional 339 shares during the period. Creative Planning boosted its holdings in shares of Brighthouse Financial by 5.7% in the third quarter. Creative Planning now owns 7,843 shares of the company’s stock worth $353,000 after buying an additional 420 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of Brighthouse Financial in the third quarter worth approximately $216,000. International Assets Investment Management LLC acquired a new stake in shares of Brighthouse Financial during the third quarter valued at approximately $14,280,000. Finally, Bogart Wealth LLC lifted its position in shares of Brighthouse Financial by 2.8% in the 3rd quarter. Bogart Wealth LLC now owns 214,222 shares of the company’s stock valued at $9,646,000 after acquiring an additional 5,899 shares in the last quarter. 81.24% of the stock is owned by institutional investors.
Brighthouse Financial Trading Down 1.7 %
The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.67 billion, a PE ratio of 11.99 and a beta of 1.10. The company’s 50-day moving average is $52.92 and its 200 day moving average is $48.87.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $5.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.56 by $1.32. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. As a group, sell-side analysts predict that Brighthouse Financial, Inc. will post 20.17 EPS for the current year.
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.
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