Brighthouse Financial (NASDAQ:BHF) Sets New 52-Week Low on Disappointing Earnings

Brighthouse Financial, Inc. (NASDAQ:BHF)’s stock price reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $41.60 and last traded at $41.7650, with a volume of 128,559 shares trading hands. The stock had previously closed at $42.45.

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

Analysts Set New Price Targets

BHF has been the topic of a number of research analyst reports. Weiss Ratings downgraded Brighthouse Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 10th. Wall Street Zen cut shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. upgraded shares of Brighthouse Financial from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $63.00 to $55.00 in a research report on Thursday, October 15th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Brighthouse Financial from $57.00 to $55.00 and set a “market perform” rating on the stock in a report on Thursday, October 15th. Seven analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Brighthouse Financial currently has a consensus rating of “Hold” and a consensus price target of $58.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP increased its position in shares of Brighthouse Financial by 34.7% during the 1st quarter. Quantinno Capital Management LP now owns 186,971 shares of the company’s stock valued at $11,196,000 after purchasing an additional 48,174 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Brighthouse Financial in the second quarter worth approximately $341,422,000. Maven Securities LTD bought a new stake in Brighthouse Financial during the second quarter valued at approximately $1,914,000. Bank of America Corp DE bought a new stake in Brighthouse Financial during the second quarter valued at approximately $7,917,000. Finally, Bank of New York Mellon Corp bought a new stake in Brighthouse Financial during the second quarter valued at approximately $20,887,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Trading Up 3.6%

The firm has a market capitalization of $2.45 billion, a PE ratio of 4.32, a PEG ratio of 0.58 and a beta of 0.81. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $48.80 and its 200 day simple moving average is $58.53.

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.