Zacks Investment Research Lowers Brighthouse Financial (BHF) to Hold

Brighthouse Financial (NASDAQ:BHF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, March 6th.

According to Zacks, “Brighthouse Financial, Inc. provides life insurance and annuity solutions primarily in the United States. The Company offers shield, variable, guaranteed, income, and fixed annuities as well as life insurance, retirement planning and financial advisory services. Brighthouse Financial, Inc. is based in Charlotte, North Carolina. “

Other research analysts also recently issued research reports about the company. B. Riley restated a “neutral” rating on shares of Brighthouse Financial in a report on Monday, November 6th. UBS Group began coverage on Brighthouse Financial in a report on Friday, March 2nd. They set a “neutral” rating and a $58.00 price target on the stock. Wells Fargo & Co set a $64.00 price target on Brighthouse Financial and gave the company a “hold” rating in a report on Monday, February 12th. Deutsche Bank began coverage on Brighthouse Financial in a report on Tuesday, January 2nd. They set a “buy” rating and a $70.00 price target on the stock. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $63.00 price target on shares of Brighthouse Financial in a report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $65.88.

Shares of Brighthouse Financial (BHF) traded up $0.26 during trading hours on Tuesday, reaching $53.72. The company had a trading volume of 82,269 shares, compared to its average volume of 902,106. Brighthouse Financial has a 52 week low of $50.76 and a 52 week high of $75.00. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.73). The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.01 billion. The company’s quarterly revenue was up 240.0% on a year-over-year basis. analysts expect that Brighthouse Financial will post 9.3 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Brighthouse Financial stock. Elkfork Partners LLC acquired a new stake in shares of Brighthouse Financial Inc (NASDAQ:BHF) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,296 shares of the company’s stock, valued at approximately $310,000. 84.54% of the stock is owned by institutional investors and hedge funds.

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About Brighthouse Financial

Brighthouse Financial, Inc is a provider of life insurance and annuity products in the United States. The Company offers a range of products and services, which include variable, fixed, index-linked and income annuities, as well as variable, universal, term and whole life products. These products and services are marketed through various third party retail distribution channels in the United States.

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