Brighthouse Financial (NASDAQ:BHF) Reaches New 1-Year High – Here’s What Happened

Brighthouse Financial, Inc. (NASDAQ:BHF) reached a new 52-week high on Monday . The company traded as high as $66.42 and last traded at $66.41, with a volume of 131749 shares trading hands. The stock had previously closed at $66.00.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BHF shares. Argus raised Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen raised Brighthouse Financial to a “hold” rating in a research report on Sunday. Weiss Ratings lowered shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $67.00 price target on shares of Brighthouse Financial in a report on Thursday, March 26th. Eight investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $60.50.

Brighthouse Financial Stock Up 1.1%

The stock has a 50-day moving average of $62.97 and a 200 day moving average of $62.60. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.83 billion, a PE ratio of -22.38 and a beta of 0.86.

Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing the consensus estimate of $4.57 by ($0.22). Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company posted $4.17 EPS. Brighthouse Financial’s quarterly revenue was down 29.4% compared to the same quarter last year. Sell-side analysts anticipate that Brighthouse Financial, Inc. will post 19.41 EPS for the current year.

Hedge Funds Weigh In On Brighthouse Financial

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in Brighthouse Financial by 442.5% in the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after buying an additional 354 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Brighthouse Financial by 390.3% during the 1st quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC increased 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 purchasing an additional 226 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Brighthouse Financial in the 3rd quarter valued at $37,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after buying an additional 735 shares during the last quarter. Hedge funds and other 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.