Brighthouse Financial (NASDAQ:BHF) Sets New 1-Year High – Here’s Why

Brighthouse Financial, Inc. (NASDAQ:BHF)’s share price reached a new 52-week high on Wednesday . The company traded as high as $64.00 and last traded at $58.33, with a volume of 3111434 shares traded. The stock had previously closed at $51.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BHF shares. Piper Sandler lowered their price target on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Barclays raised their target price on Brighthouse Financial from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Wells Fargo & Company cut their price target on Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brighthouse Financial has a consensus rating of “Hold” and an average target price of $51.38.

Brighthouse Financial Trading Up 14.2 %

The firm has a market capitalization of $3.46 billion, a P/E ratio of -2.87 and a beta of 1.08. The business has a 50-day moving average price of $49.65 and a 200-day moving average price of $47.43. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings data on Thursday, November 7th. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.21 billion. Brighthouse Financial had a negative net margin of 24.40% and a positive return on equity of 23.54%. During the same quarter in the prior year, the company posted $4.18 EPS. Analysts anticipate that Brighthouse Financial, Inc. will post 18.2 earnings per share for the current year.

Insider Buying and Selling at Brighthouse Financial

In other Brighthouse Financial news, EVP Myles Lambert sold 8,400 shares of Brighthouse Financial stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction 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. This trade represents a 20.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Brighthouse Financial

Institutional investors have recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC acquired a new stake in shares of Brighthouse Financial during the fourth quarter worth approximately $643,000. Lecap Asset Management Ltd. grew its position in Brighthouse Financial by 9.1% during the 4th quarter. Lecap Asset Management Ltd. now owns 5,234 shares of the company’s stock worth $251,000 after acquiring an additional 436 shares during the last quarter. Institute for Wealth Management LLC. acquired a new stake in Brighthouse Financial during the 4th quarter valued at $287,000. KBC Group NV raised its position in Brighthouse Financial by 33.1% in the 4th quarter. KBC Group NV now owns 2,664 shares of the company’s stock valued at $128,000 after purchasing an additional 663 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Brighthouse Financial in the fourth quarter worth $312,000. 81.24% of the stock is owned by institutional investors.

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.