Brighthouse Financial (NASDAQ:BHF) Posts Quarterly Earnings Results

Brighthouse Financial (NASDAQ:BHF) issued its 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 during the quarter, compared to analysts’ expectations of $2.14 billion. Brighthouse Financial had a negative net margin of 27.01% and a positive return on equity of 20.71%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.86 EPS.

Brighthouse Financial Stock Down 9.3 %

NASDAQ:BHF traded down $4.75 during mid-day trading on Wednesday, hitting $46.32. 349,126 shares of the company’s stock were exchanged, compared to its average volume of 448,534. Brighthouse Financial has a one year low of $39.24 and a one year high of $56.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day moving average price of $48.59 and a 200 day moving average price of $49.86. The company has a market cap of $2.90 billion, a PE ratio of -2.49 and a beta of 1.14.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts have commented on BHF shares. Morgan Stanley cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research report on Friday, February 23rd. Piper Sandler upped their price target on shares of Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. 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. Finally, Wells Fargo & Company upped their price objective on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, Brighthouse Financial currently has an average rating of “Hold” and a consensus target price of $51.14.

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.