Brighthouse Financial, Inc. (NASDAQ:BHF) to Post FY2024 Earnings of $18.18 Per Share, Zacks Research Forecasts

Brighthouse Financial, Inc. (NASDAQ:BHF) – Stock analysts at Zacks Research upped their FY2024 EPS estimates for shares of Brighthouse Financial in a research note issued on Wednesday, August 28th. Zacks Research analyst T. De now expects that the company will earn $18.18 per share for the year, up from their previous forecast of $17.00. The consensus estimate for Brighthouse Financial’s current full-year earnings is $18.16 per share.

A number of other research analysts also recently issued reports on BHF. Wells Fargo & Company downgraded shares of Brighthouse Financial from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $51.00 to $40.00 in a research report on Monday, August 12th. Keefe, Bruyette & Woods cut their price objective on shares of Brighthouse Financial from $47.00 to $43.00 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. Piper Sandler lowered their target price on shares of Brighthouse Financial from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price target on Brighthouse Financial from $58.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group lifted their price objective on Brighthouse Financial from $59.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.00.

Brighthouse Financial Trading Up 0.4 %

BHF stock opened at $45.90 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.75. Brighthouse Financial has a twelve month low of $40.24 and a twelve month high of $56.24. The company has a market cap of $2.79 billion, a P/E ratio of -2.41 and a beta of 1.08. The business has a fifty day moving average of $45.35 and a 200-day moving average of $46.26.

Brighthouse Financial (NASDAQ:BHF) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.57 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $1.21. Brighthouse Financial had a negative net margin of 22.03% and a positive return on equity of 26.22%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business posted $4.13 earnings per share. Brighthouse Financial’s revenue for the quarter was up 3.3% compared to the same quarter last year.

Insider Activity

In other news, EVP John Rosenthal sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now owns 96,262 shares in the company, valued at $4,428,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Brighthouse Financial news, CFO Edward A. Spehar sold 7,125 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.74, for a total value of $297,397.50. Following the sale, the chief financial officer now owns 37,640 shares in the company, valued at approximately $1,571,093.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Rosenthal sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $46.00, for a total transaction of $230,000.00. Following the transaction, the executive vice president now directly owns 96,262 shares of the company’s stock, valued at $4,428,052. The disclosure for this sale can be found here. Insiders have sold 37,125 shares of company stock worth $1,669,148 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its stake in Brighthouse Financial by 36.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $60,000 after acquiring an additional 303 shares during the last quarter. Quarry LP bought a new position in Brighthouse Financial during the second quarter worth about $89,000. EntryPoint Capital LLC acquired a new position in Brighthouse Financial during the first quarter worth approximately $110,000. Central Pacific Bank Trust Division bought a new stake in Brighthouse Financial in the first quarter valued at approximately $169,000. Finally, EMC Capital Management lifted its position in shares of Brighthouse Financial by 216.0% in the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after buying an additional 2,581 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

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.