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

Brighthouse Financial (NASDAQ:BHF) announced its quarterly earnings results on Tuesday. The company reported $5.88 earnings per share (EPS) for the quarter, beating 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 opened at $58.49 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.56. Brighthouse Financial has a 12 month low of $40.00 and a 12 month high of $64.00. The company has a market cap of $3.47 billion, a PE ratio of -2.88 and a beta of 1.10. The company has a 50 day moving average of $51.32 and a 200 day moving average of $48.25.

Insider Activity

In related news, EVP John Rosenthal sold 10,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $61.00, for a total transaction of $610,000.00. Following the completion of the sale, the executive vice president now directly owns 66,262 shares in the company, valued at $4,041,982. This represents a 13.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Myles Lambert sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $51.70, for a total transaction of $434,280.00. Following the completion of the sale, the executive vice president now owns 33,407 shares of the company’s stock, valued at $1,727,141.90. This trade represents a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BHF has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased 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 raised shares of Brighthouse Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $85.00 in a research report on Wednesday, January 29th. Piper Sandler reduced their target price on shares of Brighthouse Financial from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price target on Brighthouse Financial from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their target price on shares of Brighthouse Financial from $42.00 to $41.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.