Brighthouse Financial (NASDAQ:BHF) Reaches New 12-Month Low – Here’s Why

Brighthouse Financial, Inc. (NASDAQ:BHF) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $41.60 and last traded at $41.7650, with a volume of 128,559 shares. The stock had previously closed at $42.45.

Wall Street Analyst Weigh In

BHF has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Brighthouse Financial from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 10th. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. raised Brighthouse Financial from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $63.00 to $55.00 in a research note on Thursday, October 15th. Finally, Keefe, Bruyette & Woods reduced their price target on Brighthouse Financial from $57.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday, October 15th. Seven equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Brighthouse Financial currently has a consensus rating of “Hold” and a consensus price target of $61.25.

Brighthouse Financial Stock Down 2.9%

The company has a market capitalization of $2.37 billion, a PE ratio of 3.29, a price-to-earnings-growth ratio of 0.57 and a beta of 0.81. The firm’s 50-day simple moving average is $49.26 and its 200 day simple moving average is $58.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the business earned $3.43 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Brighthouse Financial, Inc. will post 18.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHF. Quantinno Capital Management LP increased its holdings in Brighthouse Financial by 34.7% in the first quarter. Quantinno Capital Management LP now owns 186,971 shares of the company’s stock valued at $11,196,000 after buying an additional 48,174 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Brighthouse Financial during the 2nd quarter worth approximately $341,422,000. Maven Securities LTD purchased a new stake in shares of Brighthouse Financial during the 2nd quarter worth approximately $1,914,000. Bank of America Corp DE purchased a new stake in shares of Brighthouse Financial during the 2nd quarter worth approximately $7,917,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Brighthouse Financial in the 2nd quarter worth approximately $20,887,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc (NASDAQ:BHF) is a U.S.-focused provider of annuities and life insurance products. The company serves individuals and institutions seeking solutions for retirement income, wealth preservation, protection and legacy planning.

Its annuity offerings include fixed, variable, income and registered index-linked annuities, including the Brighthouse Shield line of products. Brighthouse also provides life insurance products designed to offer death-benefit protection and, depending on the policy, cash-value accumulation and other financial-planning features.

Brighthouse Financial was established as an independent public company in 2017 after being separated from MetLife.