Brighthouse Financial (NASDAQ:BHF) Issues Earnings Results, Beats Estimates By $0.29 EPS

Brighthouse Financial (NASDAQ:BHF) announced its quarterly earnings data on Tuesday. The company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.29, Briefing.com reports. Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business earned $2.86 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year.

Brighthouse Financial Stock Performance

Shares of BHF traded down $4.90 during trading hours on Wednesday, hitting $46.17. The stock had a trading volume of 309,398 shares, compared to its average volume of 447,816. The firm has a market capitalization of $2.89 billion, a PE ratio of -2.49 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.80 and a quick ratio of 0.80. Brighthouse Financial has a 12 month low of $39.24 and a 12 month high of $56.24. The stock has a fifty day moving average price of $48.59 and a 200 day moving average price of $49.86.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Morgan Stanley lowered shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective for the company. in a report on Friday, February 23rd. Piper Sandler increased their target price on Brighthouse Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $50.00 price target on shares of Brighthouse Financial in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.14.

Insider Buying and Selling at Brighthouse Financial

In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now directly owns 390,765 shares in the company, valued at $18,350,324.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $46.96, for a total value of $1,174,000.00. Following the transaction, the chief executive officer now directly owns 390,765 shares of the company’s stock, valued at approximately $18,350,324.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Vonda Huss sold 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.85, for a total value of $468,500.00. Following the completion of the sale, the executive vice president now owns 27,080 shares of the company’s stock, valued at approximately $1,268,698. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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.