Brighthouse Financial (NASDAQ:BHF – Get Free Report) announced its 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), Briefing.com reports. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.Brighthouse Financial’s revenue was down 29.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.17 EPS.
Brighthouse Financial Trading Up 1.1%
Shares of BHF stock traded up $0.69 during mid-day trading on Friday, hitting $62.11. 247,640 shares of the company’s stock were exchanged, compared to its average volume of 686,310. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -20.84 and a beta of 0.87. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. Brighthouse Financial has a fifty-two week low of $42.07 and a fifty-two week high of $66.33. The stock has a 50-day simple moving average of $60.88 and a two-hundred day simple moving average of $62.39.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $67.00 price objective on shares of Brighthouse Financial in a research report on Thursday, March 26th. Argus raised Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Zacks Research lowered Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Finally, Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday. Seven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $60.86.
Institutional Trading of Brighthouse Financial
Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Brighthouse Financial by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,495,032 shares of the company’s stock worth $226,442,000 after purchasing an additional 45,109 shares during the last quarter. UBS Group AG lifted its stake in shares of Brighthouse Financial by 98.1% during the third quarter. UBS Group AG now owns 3,413,278 shares of the company’s stock worth $181,177,000 after purchasing an additional 1,690,064 shares in the last quarter. HBK Investments L P purchased a new stake in shares of Brighthouse Financial during the 4th quarter valued at about $136,059,000. Glazer Capital LLC acquired a new position in Brighthouse Financial during the 4th quarter worth approximately $113,252,000. Finally, AQR Capital Management LLC boosted its holdings in Brighthouse Financial by 190.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company’s stock worth $74,113,000 after acquiring an additional 915,902 shares during the period. 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.
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