Brighthouse Financial (NASDAQ:BHF) Releases Quarterly Earnings Results, Beats Estimates By $1.32 EPS

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

Brighthouse Financial Stock Down 0.8 %

BHF stock traded down $0.49 during mid-day trading on Tuesday, hitting $58.49. 843,416 shares of the company were exchanged, compared to its average volume of 686,679. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. Brighthouse Financial has a 1-year low of $40.00 and a 1-year high of $64.00. The firm’s 50 day simple moving average is $51.17 and its 200 day simple moving average is $48.19. The firm has a market cap of $3.47 billion, a P/E ratio of -2.88 and a beta of 1.10.

Insider Activity

In other news, EVP John Rosenthal sold 10,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $61.00, for a total value of $610,000.00. Following the sale, the executive vice president now directly owns 66,262 shares in the company, valued at $4,041,982. The trade was a 13.11 % decrease in their ownership of the stock. 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 stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total value of $434,280.00. Following the transaction, the executive vice president now owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. The trade was a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BHF shares. JPMorgan Chase & Co. lowered 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. Keefe, Bruyette & Woods raised their target price on Brighthouse Financial from $48.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Barclays upgraded Brighthouse Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $85.00 in a research report on Wednesday, January 29th. Piper Sandler cut their price target on shares of Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their price objective 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. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $57.75.

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.