Brighthouse Financial (NASDAQ:BHF) Announces Earnings Results

Brighthouse Financial (NASDAQ:BHF) posted its quarterly earnings data on Thursday. The company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.57 by ($0.22), Briefing.com reports. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.During the same period in the prior year, the company posted $4.17 earnings per share. The firm’s revenue for the quarter was down 29.4% compared to the same quarter last year.

Brighthouse Financial Price Performance

BHF traded up $0.13 during trading on Thursday, hitting $61.42. 323,281 shares of the company traded hands, compared to its average volume of 691,111. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.53 billion, a PE ratio of -20.61 and a beta of 0.87. The stock’s 50-day simple moving average is $60.84 and its two-hundred day simple moving average is $62.29. Brighthouse Financial has a 1 year low of $42.07 and a 1 year high of $66.33.

Analyst Ratings Changes

Several research firms recently issued reports on BHF. Argus raised shares of Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Zacks Research lowered shares of Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, March 30th. Weiss Ratings cut shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $67.00 target price on shares of Brighthouse Financial in a research note on Thursday, March 26th. Seven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $60.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV lifted its position in shares of Brighthouse Financial by 0.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,346 shares of the company’s stock worth $1,772,000 after buying an additional 183 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in 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 buying an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Brighthouse Financial by 1.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,394 shares of the company’s stock worth $976,000 after acquiring an additional 323 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Brighthouse Financial by 442.5% during the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after acquiring an additional 354 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Brighthouse Financial by 81.6% during the 4th quarter. UMB Bank n.a. now owns 1,155 shares of the company’s stock worth $75,000 after acquiring an additional 519 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Company Profile

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.