Brighthouse Financial (NASDAQ:BHF) Hits New 52-Week Low Following Weak Earnings

Brighthouse Financial, Inc. (NASDAQ:BHF) hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $41.60 and last traded at $41.7650, with a volume of 128,559 shares. The stock had previously closed at $42.45.

The company reported $3.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.96 by ($1.28). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%. The business had revenue of $853.00 million for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the business posted $4.54 earnings per share.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BHF shares. JPMorgan Chase & Co. raised shares of Brighthouse Financial from an “underweight” rating to a “neutral” rating and decreased their price target for the company from $63.00 to $55.00 in a research note on Thursday, October 15th. Wall Street Zen downgraded shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings lowered Brighthouse Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 10th. Finally, Keefe, Bruyette & Woods cut their target price on Brighthouse Financial from $57.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, October 15th. Seven equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.33.

Institutional Trading of Brighthouse Financial

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Brighthouse Financial during the 2nd quarter valued at approximately $341,422,000. Dimensional Fund Advisors LP increased its holdings in shares of Brighthouse Financial by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,555,823 shares of the company’s stock valued at $212,926,000 after purchasing an additional 60,791 shares during the period. Hsbc Holdings PLC purchased a new stake in Brighthouse Financial in the second quarter valued at approximately $54,895,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Brighthouse Financial by 64.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 642,800 shares of the company’s stock valued at $38,491,000 after buying an additional 251,993 shares during the last quarter. Finally, Kryger Capital LLC acquired a new position in Brighthouse Financial in the 1st quarter worth approximately $30,104,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Trading Up 3.6%

The company’s fifty day moving average is $48.80 and its two-hundred day moving average is $58.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 4.32, a P/E/G ratio of 0.58 and a beta of 0.81.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc (NASDAQ:BHF) is a U.S.-focused provider of annuities and life insurance products. The company serves individuals and institutions seeking solutions for retirement income, wealth preservation, protection and legacy planning.

Its annuity offerings include fixed, variable, income and registered index-linked annuities, including the Brighthouse Shield line of products. Brighthouse also provides life insurance products designed to offer death-benefit protection and, depending on the policy, cash-value accumulation and other financial-planning features.

Brighthouse Financial was established as an independent public company in 2017 after being separated from MetLife.