Brighthouse Financial (NASDAQ:BHF) Announces Earnings Results, Misses Expectations By $0.40 EPS

Brighthouse Financial (NASDAQ:BHF) posted its earnings results on Wednesday. The company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.40), FiscalAI reports. The business had revenue of $2.10 billion for the quarter. Brighthouse Financial had a return on equity of 17.00% and a net margin of 6.40%.The business’s quarterly revenue was down 29.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.17 earnings per share.

Brighthouse Financial Stock Down 0.3%

NASDAQ BHF opened at $62.57 on Thursday. The stock has a market cap of $3.59 billion, a PE ratio of 10.79 and a beta of 0.87. Brighthouse Financial has a fifty-two week low of $42.07 and a fifty-two week high of $66.33. The business has a 50 day moving average price of $60.77 and a two-hundred day moving average price of $61.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Institutional Investors Weigh In On Brighthouse Financial

Several institutional investors and hedge funds have recently made changes to their positions in BHF. NewEdge Advisors LLC increased its position in 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 buying an additional 354 shares during the period. Bessemer Group Inc. increased its holdings in shares of Brighthouse Financial by 390.3% during the first quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after purchasing an additional 402 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Brighthouse Financial by 66.5% during the second 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 period. Clearstead Advisors LLC increased its holdings in shares of Brighthouse Financial by 540.4% during the third quarter. Clearstead Advisors LLC now owns 634 shares of the company’s stock valued at $34,000 after purchasing an additional 535 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Brighthouse Financial by 225.5% during the third quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock valued at $35,000 after purchasing an additional 460 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BHF shares. Barclays downgraded shares of Brighthouse Financial from an “overweight” rating to an “equal weight” rating and set a $65.00 target price for the company. in a research report on Thursday, January 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 target price on shares of Brighthouse Financial in a research report on Thursday, March 26th. Argus upgraded Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Finally, Zacks Research cut Brighthouse Financial from a “hold” rating to a “strong sell” rating in a report on Monday, March 30th. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $60.86.

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.