Brighthouse Financial (NASDAQ:BHF) Issues Earnings Results, Misses Estimates By $0.22 EPS

Brighthouse Financial (NASDAQ:BHF) released its quarterly earnings results on Thursday. The company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22), FiscalAI reports. Brighthouse Financial had a positive return on equity of 16.41% and a negative net margin of 1.10%.The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the business earned $4.17 EPS. The company’s quarterly revenue was down 29.4% compared to the same quarter last year.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock traded down $0.30 during trading on Friday, reaching $61.38. The company’s stock had a trading volume of 502,952 shares, compared to its average volume of 489,524. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Brighthouse Financial has a 12-month low of $42.07 and a 12-month high of $66.33. The company has a market capitalization of $3.53 billion, a P/E ratio of -20.60 and a beta of 0.87. The business has a 50 day moving average price of $60.76 and a 200-day moving average price of $61.88.

Institutional Trading of Brighthouse Financial

A number of institutional investors have recently modified their holdings of BHF. Millennium Management LLC boosted its stake in shares of Brighthouse Financial by 156.2% in the first quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock valued at $15,245,000 after buying an additional 160,272 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of 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 buying an additional 735 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Brighthouse Financial in the first quarter valued at approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Brighthouse Financial by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company’s stock valued at $12,128,000 after buying an additional 13,245 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Brighthouse Financial by 12.5% in the second quarter. Prudential Financial Inc. now owns 6,509 shares of the company’s stock valued at $350,000 after buying an additional 725 shares in the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BHF shares. Zacks Research downgraded Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Argus upgraded Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $67.00 target price on shares of Brighthouse Financial in a research note on Thursday, March 26th. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Brighthouse Financial currently has an average rating of “Reduce” and an average 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.