Brighthouse Financial (NASDAQ:BHF) Issues Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Brighthouse Financial (NASDAQ:BHF) announced its quarterly earnings results on Tuesday. The company reported $4.25 EPS for the quarter, beating the consensus estimate of $3.96 by $0.29, Briefing.com reports. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.14 billion. Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.86 earnings per share.

Brighthouse Financial Price Performance

Shares of NASDAQ:BHF opened at $45.77 on Thursday. Brighthouse Financial has a one year low of $39.24 and a one year high of $56.24. The stock has a market cap of $2.86 billion, a PE ratio of -2.47 and a beta of 1.14. The business’s fifty day moving average price is $48.57 and its two-hundred day moving average price is $49.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.80 and a current ratio of 0.80.

Analyst Ratings Changes

BHF has been the topic of several research analyst reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $50.00 price target on shares of Brighthouse Financial in a research report on Friday, February 16th. Wells Fargo & Company upped their price target on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Morgan Stanley cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target for the company. in a research note on Friday, February 23rd. Finally, Piper Sandler lifted their price objective on shares of Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.14.

Insider Activity at Brighthouse Financial

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now directly owns 390,765 shares in the company, valued at $18,350,324.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Vonda Huss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.85, for a total value of $468,500.00. Following the sale, the executive vice president now directly owns 27,080 shares of the company’s stock, valued at $1,268,698. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the transaction, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Brighthouse Financial Company Profile

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 consists of 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.