Brighthouse Financial (NASDAQ:BHF) Hits New 12-Month Low at $41.53

Brighthouse Financial, Inc. (NASDAQ:BHF) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $41.53 and last traded at $41.66, with a volume of 50223 shares changing hands. The stock had previously closed at $42.61.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BHF. Piper Sandler cut their target price on Brighthouse Financial from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Wells Fargo & Company dropped their price target on Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Morgan Stanley lowered Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and set a $50.00 price target on shares of Brighthouse Financial in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.29.

Brighthouse Financial Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50-day simple moving average of $47.07 and a two-hundred day simple moving average of $49.40. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -2.24 and a beta of 1.08.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Tuesday, May 7th. The company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.29. Brighthouse Financial had a positive return on equity of 23.49% and a negative net margin of 38.05%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company earned $2.86 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 16.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $41.91, for a total value of $298,608.75. Following the completion of the transaction, the chief financial officer now owns 44,765 shares of the company’s stock, valued at $1,876,101.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Brighthouse Financial news, Director Michael J. Inserra purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $43.20 per share, with a total value of $108,000.00. Following the completion of the purchase, the director now owns 5,500 shares in the company, valued at approximately $237,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Edward A. Spehar sold 7,125 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total value of $298,608.75. Following the transaction, the chief financial officer now directly owns 44,765 shares of the company’s stock, valued at approximately $1,876,101.15. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Algebris UK Ltd bought a new position in Brighthouse Financial during the first quarter valued at about $6,938,000. EMC Capital Management boosted its stake in Brighthouse Financial by 216.0% during the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after buying an additional 2,581 shares in the last quarter. Innealta Capital LLC bought a new position in Brighthouse Financial during the first quarter valued at about $294,000. Caxton Associates LP boosted its stake in Brighthouse Financial by 39.7% during the first quarter. Caxton Associates LP now owns 64,406 shares of the company’s stock valued at $3,319,000 after buying an additional 18,314 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Brighthouse Financial by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,823 shares of the company’s stock valued at $1,744,000 after purchasing an additional 1,804 shares during the period. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.