Brighthouse Financial, Inc. (NASDAQ:BHF – Get Rating) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,990,000 shares, a drop of 16.0% from the March 31st total of 2,370,000 shares. Based on an average daily volume of 648,300 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.6% of the company’s stock are short sold.
Several equities analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Brighthouse Financial from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, April 6th. The Goldman Sachs Group increased their price target on Brighthouse Financial from $55.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, April 5th. Wells Fargo & Company upgraded Brighthouse Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $53.00 to $54.00 in a report on Tuesday, April 12th. JPMorgan Chase & Co. increased their target price on Brighthouse Financial from $54.00 to $59.00 in a report on Tuesday, January 4th. Finally, Zacks Investment Research lowered shares of Brighthouse Financial from a “buy” rating to a “sell” rating and set a $46.00 price target for the company. in a research note on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.20.
A number of large investors have recently bought and sold shares of BHF. Allworth Financial LP grew its stake in Brighthouse Financial by 451.5% in the 1st quarter. Allworth Financial LP now owns 535 shares of the company’s stock valued at $28,000 after purchasing an additional 438 shares during the period. Fifth Third Bancorp grew its position in Brighthouse Financial by 30.5% during the fourth quarter. Fifth Third Bancorp now owns 783 shares of the company’s stock valued at $41,000 after buying an additional 183 shares during the period. C M Bidwell & Associates Ltd. bought a new position in Brighthouse Financial during the fourth quarter valued at about $45,000. Counterpoint Mutual Funds LLC purchased a new stake in Brighthouse Financial during the first quarter worth about $88,000. Finally, Quent Capital LLC bought a new stake in Brighthouse Financial in the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 81.47% of the company’s stock.
Shares of Brighthouse Financial stock opened at $53.13 on Wednesday. The company has a market capitalization of $4.01 billion, a P/E ratio of -26.57 and a beta of 1.36. The stock has a fifty day simple moving average of $51.21 and a 200 day simple moving average of $52.66. Brighthouse Financial has a 12-month low of $40.03 and a 12-month high of $62.33. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19.
Brighthouse Financial (NASDAQ:BHF – Get Rating) last posted its earnings results on Thursday, February 10th. The company reported $5.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.46 by $1.72. Brighthouse Financial had a negative net margin of 1.51% and a positive return on equity of 11.70%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business posted $3.03 EPS. On average, analysts predict that Brighthouse Financial will post 14.15 EPS for the current year.
About Brighthouse Financial (Get Rating)
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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