Brighthouse Financial (NASDAQ:BHF) Announces Quarterly Earnings Results, Misses Estimates By $0.41 EPS

Brighthouse Financial (NASDAQ:BHF) posted its earnings results on Wednesday. The company reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.86 by ($0.41), FiscalAI reports. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.18 billion.

Brighthouse Financial Stock Down 1.3%

BHF traded down $0.83 on Wednesday, hitting $61.86. 522,511 shares of the company were exchanged, compared to its average volume of 632,286. The firm has a 50-day moving average price of $63.57 and a two-hundred day moving average price of $62.51. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. Brighthouse Financial has a twelve month low of $42.07 and a twelve month high of $66.80. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -20.76 and a beta of 0.87.

Analyst Ratings Changes

Several research firms have weighed in on BHF. Weiss Ratings downgraded Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Eight research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $60.50.

Hedge Funds Weigh In On Brighthouse Financial

Several hedge funds and other institutional investors have recently made changes to their positions in BHF. NewEdge Advisors LLC grew its position in shares of Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after buying an additional 354 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after acquiring an additional 226 shares in the last quarter. Danske Bank A S purchased a new position in Brighthouse Financial in the third quarter worth approximately $37,000. Jones Financial Companies Lllp lifted its stake in Brighthouse Financial by 835.2% in the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock worth $48,000 after acquiring an additional 735 shares during the last quarter. Finally, Meteora Capital LLC acquired a new position in Brighthouse Financial during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.