Brighthouse Financial (NASDAQ:BHF) Releases Earnings Results, Beats Estimates By $0.29 EPS

Brighthouse Financial (NASDAQ:BHF) issued its quarterly earnings data on Tuesday. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.29, Briefing.com reports. Brighthouse Financial had a positive return on equity of 20.71% and a negative net margin of 27.01%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the company earned $2.86 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis.

Brighthouse Financial Stock Up 0.7 %

Shares of NASDAQ BHF opened at $51.07 on Wednesday. Brighthouse Financial has a 12-month low of $39.24 and a 12-month high of $56.24. The stock has a market cap of $3.19 billion, a P/E ratio of -2.75 and a beta of 1.14. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $48.59 and its 200-day simple moving average is $49.86.

Wall Street Analysts Forecast Growth

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

Insider Activity at Brighthouse Financial

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

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.