Brighthouse Financial (NASDAQ:BHF) Announces Quarterly Earnings Results

Brighthouse Financial (NASDAQ:BHF) issued its quarterly earnings data on Thursday. The company reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.86 by ($0.41), FiscalAI reports. Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the business posted $3.43 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis.

Brighthouse Financial Trading Down 2.2%

NASDAQ BHF opened at $60.80 on Friday. The stock has a market capitalization of $3.49 billion, a P/E ratio of 4.85 and a beta of 0.87. Brighthouse Financial has a 52-week low of $42.07 and a 52-week high of $66.80. The firm has a 50-day moving average price of $63.50 and a 200 day moving average price of $62.47. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. 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 report on Sunday, July 12th. Finally, Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Eight research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $60.50.

Hedge Funds Weigh In On Brighthouse Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in shares of 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 during the period. Smartleaf Asset Management LLC raised its position in Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after acquiring an additional 226 shares in the last quarter. Danske Bank A S purchased a new position in Brighthouse Financial in the third quarter worth $37,000. Jones Financial Companies Lllp lifted its holdings in Brighthouse Financial by 835.2% in the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after acquiring an additional 735 shares during the period. Finally, Meteora Capital LLC acquired a new stake in Brighthouse Financial in the fourth quarter valued at $65,000. Institutional investors and hedge funds 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.