Brighthouse Financial (NASDAQ:BHF) Announces Quarterly Earnings Results

Brighthouse Financial (NASDAQ:BHF) issued its quarterly earnings data on Wednesday. The company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.40), FiscalAI reports. Brighthouse Financial had a return on equity of 17.00% and a net margin of 6.40%.The company had revenue of $2.10 billion during the quarter. During the same period in the previous year, the business earned $4.17 EPS. Brighthouse Financial’s revenue for the quarter was down 29.4% compared to the same quarter last year.

Brighthouse Financial Stock Down 0.3%

Shares of Brighthouse Financial stock traded down $0.16 on Wednesday, reaching $62.57. The company’s stock had a trading volume of 553,713 shares, compared to its average volume of 703,007. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 10.79 and a beta of 0.87. The firm’s fifty day simple moving average is $60.77 and its two-hundred day simple moving average is $61.65. Brighthouse Financial has a 52 week low of $42.07 and a 52 week high of $66.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BHF shares. Argus upgraded Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Barclays downgraded shares of Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a research note on Thursday, January 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 price target on shares of Brighthouse Financial in a research report on Thursday, March 26th. Finally, Zacks Research downgraded Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $60.86.

Institutional Investors Weigh In On Brighthouse Financial

A number of large investors have recently added to or reduced their stakes in BHF. NewEdge Advisors LLC grew its position in Brighthouse Financial by 442.5% in the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after purchasing an additional 354 shares during the period. Bessemer Group Inc. grew its position in shares of Brighthouse Financial by 390.3% during the 1st quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after acquiring an additional 402 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Brighthouse Financial by 66.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after acquiring an additional 226 shares during the period. Clearstead Advisors LLC grew its position in shares of Brighthouse Financial by 540.4% during the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock valued at $34,000 after acquiring an additional 535 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of Brighthouse Financial by 225.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares during the period. Institutional investors own 81.24% of the company’s stock.

About Brighthouse Financial

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.