Bank of America Cuts Brighthouse Financial (BHF) Price Target to $45.00

Brighthouse Financial (NASDAQ:BHF) had its target price decreased by Bank of America from $47.00 to $45.00 in a report issued on Tuesday morning. Bank of America currently has a neutral rating on the stock.

BHF has been the topic of several other reports. BidaskClub upgraded Brighthouse Financial from a strong sell rating to a sell rating in a research report on Friday, September 21st. ValuEngine upgraded Brighthouse Financial from a strong sell rating to a sell rating in a research report on Friday, August 17th. Barclays lowered their target price on Brighthouse Financial from $72.00 to $60.00 and set an overweight rating on the stock in a research report on Monday, July 9th. B. Riley lowered their target price on Brighthouse Financial from $59.00 to $49.00 and set a neutral rating on the stock in a research report on Monday, July 16th. Finally, Credit Suisse Group upgraded Brighthouse Financial from an underperform rating to a neutral rating and set a $35.00 target price on the stock in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $56.07.

Shares of BHF stock traded down $1.27 on Tuesday, reaching $42.10. The stock had a trading volume of 25,947 shares, compared to its average volume of 1,802,732. The company has a market cap of $5.27 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 0.55 and a beta of 1.56. Brighthouse Financial has a 1 year low of $37.68 and a 1 year high of $67.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.46 and a quick ratio of 0.46.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings results on Monday, November 5th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.04. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.05 billion. Brighthouse Financial had a return on equity of 5.49% and a net margin of 1.33%. During the same period last year, the business posted $3.31 EPS. As a group, analysts expect that Brighthouse Financial will post 8.17 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. First Hawaiian Bank purchased a new position in shares of Brighthouse Financial in the third quarter valued at about $142,000. AGF Investments America Inc. purchased a new position in shares of Brighthouse Financial in the third quarter valued at about $164,000. Daiwa Securities Group Inc. purchased a new position in shares of Brighthouse Financial in the third quarter valued at about $164,000. Hexavest Inc. purchased a new position in shares of Brighthouse Financial in the second quarter valued at about $158,000. Finally, Whittier Trust Co. purchased a new position in shares of Brighthouse Financial in the third quarter valued at about $176,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

About Brighthouse Financial

Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It 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; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.

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Analyst Recommendations for Brighthouse Financial (NASDAQ:BHF)

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