Wells Fargo & Company Issues Pessimistic Forecast for Brighthouse Financial (NASDAQ:BHF) Stock Price

Brighthouse Financial (NASDAQ:BHF) had its target price decreased by Wells Fargo & Company from $42.00 to $41.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 17.26% from the company’s current price.

BHF has been the topic of several other reports. JPMorgan Chase & Co. decreased their price target on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler lowered their target price on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Finally, Barclays upped their price target on Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Brighthouse Financial currently has an average rating of “Hold” and a consensus price target of $51.38.

Brighthouse Financial Stock Up 3.7 %

BHF stock opened at $49.55 on Tuesday. Brighthouse Financial has a 52 week low of $40.00 and a 52 week high of $54.73. 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 has a 50-day simple moving average of $49.66 and a 200-day simple moving average of $46.97. The stock has a market capitalization of $2.94 billion, a P/E ratio of -2.44 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last released its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.50 by ($0.51). Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business earned $4.18 EPS. Equities analysts forecast that Brighthouse Financial will post 18.47 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 transaction, the executive vice president now directly owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This represents a 20.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

A number of large investors have recently made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of Brighthouse Financial by 0.9% in the third quarter. US Bancorp DE now owns 35,755 shares of the company’s stock valued at $1,610,000 after acquiring an additional 319 shares during the period. CWM LLC raised its position in 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 last quarter. Creative Planning boosted its stake in Brighthouse Financial by 5.7% during the 3rd quarter. Creative Planning now owns 7,843 shares of the company’s stock worth $353,000 after purchasing an additional 420 shares during the period. KBC Group NV grew its position in Brighthouse Financial by 30.2% during the 3rd quarter. KBC Group NV now owns 2,001 shares of the company’s stock worth $90,000 after purchasing an additional 464 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Brighthouse Financial by 989.5% in the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock valued at $28,000 after purchasing an additional 564 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

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.