Brighthouse Financial (NASDAQ:BHF) Announces Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Brighthouse Financial (NASDAQ:BHF) announced its quarterly earnings results on Tuesday. The company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.29, Briefing.com reports. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.86 earnings per share.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock opened at $45.77 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $48.57 and a 200 day simple moving average of $49.83. Brighthouse Financial has a fifty-two week low of $39.24 and a fifty-two week high of $56.24. The firm has a market cap of $2.86 billion, a P/E ratio of -2.47 and a beta of 1.14.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BHF. Morgan Stanley lowered shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 target price on the stock. in a report on Friday, February 23rd. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $50.00 price target on shares of Brighthouse Financial in a research report on Friday, February 16th. Piper Sandler raised their price objective on shares of Brighthouse Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company lifted their target price on shares of Brighthouse Financial from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.14.

Insider Buying and Selling at Brighthouse Financial

In other news, CEO Eric T. Steigerwalt sold 25,000 shares of Brighthouse Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $46.96, for a total transaction of $1,174,000.00. Following the completion of the sale, the chief executive officer now owns 390,765 shares in the company, valued at approximately $18,350,324.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Brighthouse Financial news, EVP Vonda Huss sold 10,000 shares of Brighthouse Financial stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.85, for a total transaction of $468,500.00. Following the transaction, the executive vice president now directly owns 27,080 shares in the company, valued at $1,268,698. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric T. Steigerwalt sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $46.96, for a total value of $1,174,000.00. Following the sale, the chief executive officer now directly owns 390,765 shares in the company, valued at approximately $18,350,324.40. The disclosure for this sale can be found here. Corporate insiders own 1.40% 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.