Brighthouse Financial, Inc. (NASDAQ:BHF) has received a consensus rating of “Reduce” from eleven research firms monitoring its stock. According to Marketbeat Ratings, three analysts have assigned a sell rating, while seven maintain a hold rating. Only one firm has issued a buy rating. The average price target set by analysts for the next year is **$63.70**.
Recent commentary from various analysts has highlighted their cautious outlook on the stock. On **October 7, 2023**, Piper Sandler reaffirmed a “neutral” rating with a target price of **$53.00**. Following this, Evercore ISI revised its price objective down from **$65.00** to **$55.00**, simultaneously assigning an “in-line” rating on **October 9, 2023**. Wells Fargo & Company slightly increased its target from **$52.00** to **$53.00**, maintaining an “equal weight” rating on **October 8, 2023**.
On **November 12, 2023**, Raymond James Financial reiterated a “market perform” rating for Brighthouse Financial. In a more critical move, Zacks Research downgraded the company from a “hold” rating to a “strong sell” on **November 18, 2023**.
Financial Performance and Market Reaction
Brighthouse Financial recently reported its earnings on **November 7, 2023**, disclosing an earnings per share (EPS) of **$4.54** for the quarter. This fell short of analysts’ expectations, which had anticipated an EPS of **$5.09**, missing the target by **$0.55**. The company’s revenue for the quarter was **$2.17 billion**, below the projected **$2.26 billion**.
The firm also noted a **net margin of 15.39%** and a **return on equity of 20.59%**. Year-on-year, revenue declined by **10.0%**, with the previous year’s EPS standing at **$3.99**. Analysts expect Brighthouse Financial to report an EPS of **$20.32** for the current fiscal year.
Institutional Investor Trends
Recent activity among institutional investors indicates a notable shift in holdings of Brighthouse Financial. Smartleaf Asset Management LLC increased its position by **66.5%** in the second quarter, acquiring an additional **226 shares** for a total of **566 shares** valued at approximately **$31,000**.
In the third quarter, Clearstead Advisors LLC significantly boosted its holdings by **540.4%**, now owning **634 shares** valued at **$34,000** after purchasing **535 additional shares**. Hantz Financial Services Inc. also expanded its stake by **225.5%**, resulting in ownership of **664 shares** valued at **$35,000**.
Danske Bank A S entered a new position in Brighthouse Financial during the third quarter, investing around **$37,000**. Additionally, IFP Advisors Inc. raised its holdings by an impressive **1,900.0%** in the second quarter, now owning **740 shares** worth approximately **$40,000**.
Overall, institutional and hedge fund investors hold **81.24%** of Brighthouse Financial’s stock, reflecting a strong interest in the company despite recent challenges.
Brighthouse Financial, headquartered in the United States, specializes in providing annuity and life insurance products. The company operates through three segments: Annuities, Life, and Run-off, catering to various contract holders’ needs including wealth accumulation and income security.
