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

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

Brighthouse Financial Price Performance

Shares of BHF stock opened at $46.57 on Friday. Brighthouse Financial has a 12 month low of $39.24 and a 12 month high of $56.24. The company has a market capitalization of $2.91 billion, a P/E ratio of -2.51 and a beta of 1.14. The stock has a 50 day moving average of $48.57 and a two-hundred day moving average of $49.81. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

BHF has been the subject of several analyst reports. Piper Sandler boosted their target price on Brighthouse Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Morgan Stanley cut shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective for the company. in a research note 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 research note on Friday, February 16th. Finally, Wells Fargo & Company boosted their target price on shares of Brighthouse Financial from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Brighthouse Financial presently has a consensus rating of “Hold” and an average target price of $51.14.

Insider Activity

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

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.