Brighthouse Financial (NASDAQ:BHF) Announces Earnings Results

Brighthouse Financial (NASDAQ:BHF) released its quarterly earnings data on Monday. The company reported $3.70 earnings per share for the quarter, missing the consensus estimate of $5.19 by ($1.49), FiscalAI reports. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Brighthouse Financial had a return on equity of 20.59% and a net margin of 15.39%.

Brighthouse Financial Stock Down 2.2%

Shares of NASDAQ BHF traded down $1.39 on Monday, reaching $62.54. 1,129,871 shares of the company’s stock traded hands, compared to its average volume of 710,085. The business’s 50 day simple moving average is $64.36 and its two-hundred day simple moving average is $57.33. Brighthouse Financial has a 12 month low of $42.07 and a 12 month high of $66.33. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 4.27 and a beta of 0.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.49.

Institutional Trading of Brighthouse Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in Brighthouse Financial by 1.3% in the 4th quarter. Invesco Ltd. now owns 427,282 shares of the company’s stock worth $27,684,000 after buying an additional 5,673 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Brighthouse Financial by 49.1% during the 4th quarter. Corient Private Wealth LLC now owns 33,540 shares of the company’s stock valued at $2,152,000 after acquiring an additional 11,048 shares during the last quarter. Alberta Investment Management Corp bought a new stake in shares of Brighthouse Financial in the fourth quarter worth approximately $3,240,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Brighthouse Financial by 0.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,346 shares of the company’s stock valued at $1,772,000 after purchasing an additional 183 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after purchasing an additional 354 shares during the period. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Analyst Upgrades and Downgrades

BHF has been the subject of a number of research analyst reports. Morgan Stanley set a $70.00 price target on Brighthouse Financial in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brighthouse Financial in a research report on Monday, December 29th. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 17th. Keefe, Bruyette & Woods increased their price target on shares of Brighthouse Financial from $50.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. Finally, Raymond James Financial restated a “market perform” rating on shares of Brighthouse Financial in a report on Wednesday, November 12th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $63.67.

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.