FY2024 Earnings Forecast for Brighthouse Financial, Inc. (NASDAQ:BHF) Issued By Zacks Research

Brighthouse Financial, Inc. (NASDAQ:BHF) – Research analysts at Zacks Research increased their FY2024 earnings estimates for shares of Brighthouse Financial in a note issued to investors 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 prior estimate of $17.00. The consensus estimate for Brighthouse Financial’s current full-year earnings is $18.16 per share.

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

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

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $45.14 on Monday. The company’s 50 day moving average is $45.43 and its 200-day moving average is $46.22. The firm has a market cap of $2.80 billion, a P/E ratio of -2.37 and a beta of 1.08. Brighthouse Financial has a 12-month low of $40.24 and a 12-month high of $56.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in shares of Brighthouse Financial by 36.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock worth $60,000 after buying an additional 303 shares during the last quarter. Quarry LP bought a new stake in Brighthouse Financial during the 2nd quarter valued at approximately $89,000. EntryPoint Capital LLC purchased a new position in shares of Brighthouse Financial during the 1st quarter worth approximately $110,000. Central Pacific Bank Trust Division bought a new position in shares of Brighthouse Financial in the 1st quarter worth approximately $169,000. Finally, EMC Capital Management boosted its position in shares of Brighthouse Financial by 216.0% during the first quarter. EMC Capital Management now owns 3,776 shares of the company’s stock valued at $195,000 after purchasing an additional 2,581 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling

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

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.