Brighthouse Financial Inc (NASDAQ:BHF) shares fell 8.7% during trading on Thursday . The stock traded as low as $35.73 and last traded at $35.77, 1,165,600 shares changed hands during mid-day trading. A decline of 24% from the average session volume of 1,528,233 shares. The stock had previously closed at $39.17.
Several research firms recently commented on BHF. TheStreet upgraded Brighthouse Financial from a “d+” rating to a “c-” rating in a research report on Thursday, April 25th. Citigroup set a $36.00 target price on Brighthouse Financial and gave the company a “sell” rating in a research report on Thursday, May 23rd. Credit Suisse Group cut Brighthouse Financial from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $22.00 in a research report on Tuesday, June 25th. Morgan Stanley lowered their target price on Brighthouse Financial from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, BidaskClub upgraded Brighthouse Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Brighthouse Financial presently has a consensus rating of “Hold” and a consensus target price of $41.00.
The stock has a market cap of $4.54 billion, a P/E ratio of 4.65, a price-to-earnings-growth ratio of 0.38 and a beta of 2.04. The firm’s 50-day simple moving average is $37.59. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.29.
Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Monday, May 6th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.12 by ($0.14). Brighthouse Financial had a net margin of 2.49% and a return on equity of 6.01%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business posted $2.36 earnings per share. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. Analysts forecast that Brighthouse Financial Inc will post 8.91 EPS for the current fiscal year.
In other news, Director Margaret M. Mccarthy purchased 2,941 shares of the stock in a transaction dated Wednesday, June 26th. The shares were bought at an average cost of $34.08 per share, for a total transaction of $100,229.28. Following the transaction, the director now owns 4,423 shares in the company, valued at $150,735.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Edward Chaplin purchased 2,700 shares of the stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $36.50 per share, for a total transaction of $98,550.00. Following the completion of the transaction, the director now owns 6,939 shares in the company, valued at approximately $253,273.50. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BHF. Norges Bank bought a new stake in shares of Brighthouse Financial during the 4th quarter worth $62,021,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Brighthouse Financial by 8,316.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 619,172 shares of the company’s stock worth $22,471,000 after acquiring an additional 611,815 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Brighthouse Financial by 1,836.3% during the 2nd quarter. First Trust Advisors LP now owns 428,281 shares of the company’s stock worth $15,714,000 after acquiring an additional 406,163 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $8,335,000. Finally, Peregrine Capital Management LLC bought a new stake in shares of Brighthouse Financial during the 1st quarter worth $7,883,000. 88.67% of the stock is owned by institutional investors and hedge funds.
Brighthouse Financial Company Profile (NASDAQ:BHF)
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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