Brighthouse Financial (NASDAQ:BHF) Releases Quarterly Earnings Results, Misses Expectations By $0.41 EPS

Brighthouse Financial (NASDAQ:BHF) announced its quarterly earnings results on Wednesday. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41), FiscalAI reports. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.43 EPS.

Brighthouse Financial Stock Up 0.5%

NASDAQ:BHF traded up $0.31 during midday trading on Thursday, reaching $62.17. 919,793 shares of the stock traded hands, compared to its average volume of 634,215. The stock has a market capitalization of $3.57 billion, a PE ratio of -20.86 and a beta of 0.87. Brighthouse Financial has a 12-month low of $42.07 and a 12-month high of $66.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day moving average of $63.55 and a two-hundred day moving average of $62.49.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings cut shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Eight investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $60.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Brighthouse Financial by 156.2% during the first quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock worth $15,245,000 after acquiring an additional 160,272 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Brighthouse Financial by 835.2% in the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after purchasing an additional 735 shares in the last quarter. United Services Automobile Association purchased a new stake in Brighthouse Financial during the 1st quarter worth approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Brighthouse Financial by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company’s stock worth $12,128,000 after purchasing an additional 13,245 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Brighthouse Financial by 12.5% during the 2nd quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock worth $350,000 after purchasing an additional 725 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

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.