Brighthouse Financial (NASDAQ:BHF) Given New $41.00 Price Target at Morgan Stanley

Brighthouse Financial (NASDAQ:BHF) had its price objective lowered by Morgan Stanley from $43.00 to $41.00 in a research report report published on Tuesday, AnalystRatings.com reports. Morgan Stanley currently has an equal weight rating on the stock.

BHF has been the subject of several other research reports. Wells Fargo & Co restated a hold rating and issued a $45.00 price objective on shares of Brighthouse Financial in a research report on Tuesday, May 7th. TheStreet upgraded shares of Brighthouse Financial from a d+ rating to a c- rating in a research report on Thursday, April 25th. BidaskClub upgraded shares of Brighthouse Financial from a hold rating to a buy rating in a research report on Tuesday, July 16th. Credit Suisse Group cut shares of Brighthouse Financial from a neutral rating to an underperform rating and lowered their price objective for the company from $35.00 to $22.00 in a research report on Tuesday, June 25th. Finally, Goldman Sachs Group cut shares of Brighthouse Financial from a neutral rating to a sell rating and lowered their price objective for the company from $39.00 to $32.00 in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $37.89.

Shares of Brighthouse Financial stock opened at $34.28 on Tuesday. The stock has a market capitalization of $3.82 billion, a P/E ratio of 4.61, a price-to-earnings-growth ratio of 0.36 and a beta of 2.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $36.66 and a 200 day simple moving average of $38.17. Brighthouse Financial has a 12-month low of $28.52 and a 12-month high of $47.33.

Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Monday, August 5th. The company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.33. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Brighthouse Financial had a net margin of 9.61% and a return on equity of 6.74%. During the same quarter last year, the company posted $1.68 EPS. On average, equities analysts anticipate that Brighthouse Financial will post 8.67 earnings per share for the current year.

In related news, COO Conor Murphy purchased 3,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $35.68 per share, with a total value of $107,040.00. Following the completion of the purchase, the chief operating officer now owns 20,902 shares in the company, valued at approximately $745,783.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric T. Steigerwalt purchased 12,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $34.04 per share, for a total transaction of $425,500.00. Following the purchase, the insider now owns 111,239 shares of the company’s stock, valued at approximately $3,786,575.56. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,441 shares of company stock worth $735,309 in the last three months. 0.23% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Brighthouse Financial in the first quarter valued at approximately $8,335,000. Schneider Capital Management Corp raised its holdings in shares of Brighthouse Financial by 0.3% in the first quarter. Schneider Capital Management Corp now owns 898,411 shares of the company’s stock valued at $32,603,000 after purchasing an additional 2,860 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Brighthouse Financial in the first quarter valued at approximately $441,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Brighthouse Financial by 4.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 19,315 shares of the company’s stock valued at $701,000 after purchasing an additional 860 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Brighthouse Financial by 2.7% in the first quarter. Swiss National Bank now owns 359,858 shares of the company’s stock valued at $13,059,000 after purchasing an additional 9,400 shares during the last quarter. 92.55% of the stock is currently owned by hedge funds and other 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 offers 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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Analyst Recommendations for Brighthouse Financial (NASDAQ:BHF)

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