Brighthouse Financial (NASDAQ:BHF) announced its earnings results on Monday. The company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.33, Morningstar.com reports. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Brighthouse Financial had a net margin of 2.49% and a return on equity of 6.01%. During the same quarter last year, the company posted $1.68 EPS.
Shares of NASDAQ:BHF traded down $2.55 during trading on Wednesday, hitting $33.23. 19,626 shares of the company’s stock were exchanged, compared to its average volume of 798,049. Brighthouse Financial has a 1-year low of $28.52 and a 1-year high of $47.33. The company’s 50-day moving average is $37.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 4.46, a P/E/G ratio of 0.33 and a beta of 2.04.
Several equities research analysts have weighed in on BHF shares. TheStreet upgraded shares of Brighthouse Financial from a “d+” rating to a “c-” rating in a research report on Thursday, April 25th. Credit Suisse Group cut shares of Brighthouse Financial from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $22.00 in a research report on Tuesday, June 25th. Citigroup set a $36.00 price target on shares of Brighthouse Financial and gave the stock a “sell” rating in a research report on Thursday, May 23rd. Morgan Stanley lowered their price target on shares of Brighthouse Financial from $46.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Zacks Investment Research cut shares of Brighthouse Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $40.30.
Several hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Brighthouse Financial in the 2nd quarter valued at about $170,000. New Mexico Educational Retirement Board grew its stake in Brighthouse Financial by 103.5% in the 2nd quarter. New Mexico Educational Retirement Board now owns 20,200 shares of the company’s stock valued at $741,000 after buying an additional 10,274 shares during the last quarter. Securian Asset Management Inc grew its stake in Brighthouse Financial by 17.2% in the 2nd quarter. Securian Asset Management Inc now owns 13,870 shares of the company’s stock valued at $509,000 after buying an additional 2,031 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Brighthouse Financial by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 115,036 shares of the company’s stock valued at $4,221,000 after buying an additional 354 shares during the last quarter. Finally, Usca Ria LLC acquired a new position in Brighthouse Financial in the 2nd quarter valued at about $1,708,000. 88.79% of the stock is owned by institutional investors.
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 offers 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.
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