Brighthouse Financial (NASDAQ:BHF) Issues Earnings Results

by · The Cerbat Gem

Brighthouse Financial (NASDAQ:BHF – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $4.45 earnings per share for the quarter, missing the consensus estimate of $4.86 by ($0.41), FiscalAI reports. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.43 EPS.

Brighthouse Financial Stock Performance

Shares of BHF traded down $0.83 during mid-day trading on Wednesday, hitting $61.86. 522,511 shares of the company’s stock were exchanged, compared to its average volume of 632,286. Brighthouse Financial has a fifty-two week low of $42.07 and a fifty-two week high of $66.80. The firm has a market capitalization of $3.55 billion, a P/E ratio of -20.76 and a beta of 0.87. The business’s 50 day moving average is $63.57 and its two-hundred day moving average is $62.51. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56.

Analyst Ratings Changes

BHF has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research upgraded Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Brighthouse Financial has an average rating of “Reduce” and an average price target of $60.50.

View Our Latest Report on BHF

Institutional Trading of Brighthouse Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its holdings 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 valued at $1,772,000 after purchasing an additional 183 shares during the period. Smartleaf Asset Management LLC increased 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 acquiring an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Brighthouse Financial by 1.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,394 shares of the company’s stock worth $976,000 after purchasing an additional 323 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Brighthouse Financial by 442.5% in the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after acquiring an additional 354 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Brighthouse Financial by 81.6% in the fourth quarter. UMB Bank n.a. now owns 1,155 shares of the company’s stock valued at $75,000 after buying an additional 519 shares during the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Company Profile

(Get Free Report)

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.

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