Brighthouse Financial (NASDAQ:BHF) Posts Quarterly Earnings Results, Misses Expectations By $0.55 EPS

Brighthouse Financial (NASDAQ:BHF) released its quarterly earnings data on Thursday. The company reported $4.54 EPS for the quarter, missing the consensus estimate of $5.09 by ($0.55), Briefing.com reports. Brighthouse Financial had a net margin of 15.39% and a return on equity of 21.62%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the company earned $3.99 earnings per share. The firm’s revenue was down 10.0% on a year-over-year basis.

Brighthouse Financial Price Performance

BHF stock traded up $0.31 during mid-day trading on Friday, reaching $66.01. 4,323,888 shares of the company’s stock were exchanged, compared to its average volume of 1,959,115. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. Brighthouse Financial has a 12-month low of $42.07 and a 12-month high of $66.09. The stock’s 50 day moving average is $49.92 and its 200 day moving average is $52.20. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 4.50 and a beta of 0.94.

Analyst Ratings Changes

Several research firms have commented on BHF. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brighthouse Financial in a report on Tuesday, October 14th. Evercore ISI decreased their price objective on Brighthouse Financial from $65.00 to $55.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Morgan Stanley set a $70.00 target price on Brighthouse Financial in a report on Thursday. Wells Fargo & Company boosted their price target on Brighthouse Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, Piper Sandler restated a “neutral” rating and issued a $53.00 price objective on shares of Brighthouse Financial in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its stake in Brighthouse Financial by 156.2% in the 1st quarter. Millennium Management LLC now owns 262,890 shares of the company’s stock valued at $15,245,000 after acquiring an additional 160,272 shares during the period. Jones Financial Companies Lllp lifted its holdings in Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after purchasing an additional 735 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Brighthouse Financial in the first quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Brighthouse Financial by 6.8% during 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 worth $12,128,000 after purchasing an additional 13,245 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of 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. Hedge funds and other 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.