Morgan Stanley Cuts Brighthouse Financial (NASDAQ:BHF) Price Target to $43.00

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Brighthouse Financial (NASDAQ:BHF) had its target price decreased by Morgan Stanley from $46.00 to $43.00 in a report published on Wednesday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently commented on BHF. Zacks Investment Research cut HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Credit Suisse Group began coverage on Arco Platform in a research note on Tuesday, June 25th. They issued a neutral rating for the company. Citigroup lowered Barrick Gold to a neutral rating in a report on Thursday, May 23rd. TheStreet cut shares of Trinity Industries from a b rating to a c rating in a research note on Thursday, April 25th. Finally, UBS Group upped their target price on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a sell rating in a report on Tuesday, April 9th. Five analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company has an average rating of Hold and an average target price of $41.73.

BHF stock opened at $38.34 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.29. Brighthouse Financial has a 12-month low of $28.52 and a 12-month high of $47.33. The firm has a market cap of $4.44 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 0.36 and a beta of 2.04. The business has a 50-day moving average price of $37.28.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings data on Monday, May 6th. The company reported $1.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.14). The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Brighthouse Financial had a return on equity of 6.01% and a net margin of 2.49%. Brighthouse Financial’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.36 earnings per share. As a group, equities research analysts anticipate that Brighthouse Financial will post 8.91 earnings per share for the current fiscal year.

In related news, Director Margaret M. Mccarthy purchased 2,941 shares of Brighthouse Financial stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $34.08 per share, for a total transaction of $100,229.28. Following the acquisition, the director now directly owns 4,423 shares in the company, valued at $150,735.84. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director C Edward Chaplin purchased 2,700 shares of Brighthouse Financial stock in a transaction dated Monday, May 13th. The shares were bought at an average price of $36.50 per share, for a total transaction of $98,550.00. Following the acquisition, the director now owns 6,939 shares in the company, valued at $253,273.50. The disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Brighthouse Financial during the fourth quarter worth about $62,021,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Brighthouse Financial by 8,316.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 619,172 shares of the company’s stock valued at $22,471,000 after buying an additional 611,815 shares during the period. Northern Trust Corp increased its holdings in shares of Brighthouse Financial by 19.5% during the 4th quarter. Northern Trust Corp now owns 1,471,117 shares of the company’s stock worth $44,840,000 after buying an additional 240,268 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Brighthouse Financial during the 1st quarter worth approximately $8,335,000. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Brighthouse Financial during the 1st quarter worth approximately $7,883,000. Hedge funds and other institutional investors own 88.85% of the company’s stock.

About Brighthouse Financial

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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