Brighthouse Financial (NASDAQ:BHF) Announces Earnings Results

Brighthouse Financial (NASDAQ:BHF) announced its earnings results on Tuesday. The company reported $5.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $1.32, Zacks reports. Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%.

Brighthouse Financial Price Performance

Brighthouse Financial stock opened at $58.49 on Wednesday. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $64.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $51.32 and a 200-day simple moving average of $48.25. The stock has a market capitalization of $3.47 billion, a PE ratio of -2.88 and a beta of 1.10.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group cut Brighthouse Financial from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on Brighthouse Financial from $48.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Finally, Piper Sandler lowered their price target on Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.75.

Insider Activity at Brighthouse Financial

In other Brighthouse Financial news, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the transaction, the executive vice president now directly owns 66,262 shares of the company’s stock, valued at $4,041,982. This represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Myles Lambert sold 8,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the sale, the executive vice president now owns 33,407 shares in the company, valued at $1,727,141.90. The trade was a 20.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

About Brighthouse Financial

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.