Brighthouse Financial, Inc. (NASDAQ: BHF – Get a rating) – Equity research analysts at Jefferies Financial Group dropped their fiscal 2022 earnings estimates for Brighthouse Financial in a report released on Monday, November 21. Jefferies Financial Group analyst S. Kamath now expects the company to earn $10.20 per share for the year, down from its previous estimate of $11.43. Brighthouse Financial’s current annual earnings consensus estimate is $11.43 per share. Jefferies Financial Group also released estimates for Brighthouse Financial Q4 2022 earnings at $2.73 EPS, Q2 2023 earnings at $3.41 EPS, Q3 2023 earnings at $3.52 EPS, Q4 2023 earnings at $3.66 EPS, FY2023 earnings at $13.75 EPS, FY2024 earnings at $15.30 EPS, FY2025 earnings at $16.95 EPS and FY2026 earnings at $18.85 EPS.
Brighthouse Financial (NASDAQ: BHF – Get a rating) last released its quarterly earnings data on Monday, November 7. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.78 per ($0.82). The company posted revenue of $1.91 billion in the quarter, versus $1.97 billion expected by analysts. Brighthouse Financial had a return on equity of 9.50% and a net margin of 10.06%.
BHF has been the subject of a number of other reports. Evercore ISI raised its price target on Brighthouse Financial to $55.00 in a Tuesday, November 15 research note. Morgan Stanley raised its price target on shares of Brighthouse Financial from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, Nov. 17. Wells Fargo & Company lowered its price target on shares of Brighthouse Financial from $51.00 to $49.00 and set an “equal weight” rating for the company in a Wednesday, Oct. 12 report. Barclays raised its price target on Brighthouse Financial from $45.00 to $47.00 and gave the company an “equal weight” rating in a Friday, October 14 report. Finally, TheStreet downgraded Brighthouse Financial from a ‘b’ to a ‘c+’ rating in a Monday, November 7 research note. Seven analysts gave the stock a hold rating and one gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.22.
Brighthouse Financial Stock Performance
Shares of BHF opened at $54.68 on Thursday. The company has a 50-day simple moving average of $50.70 and a two-hundred-day simple moving average of $47.19. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt ratio of 0.54. Brighthouse Financial has a 52-week low of $38.38 and a 52-week high of $62.33. The stock has a market capitalization of $3.78 billion, a price-earnings ratio of 4.78 and a beta of 1.37.
Institutional entries and exits
Institutional investors and hedge funds have recently changed their stakes in the company. The Kentucky State Teachers’ Retirement System purchased a new stake in shares of Brighthouse Financial during Q3, valued at approximately $502,000. Public Employees Retirement System of Ohio increased its position in Brighthouse Financial by 18.4% during the third quarter. The Ohio Public Employees Retirement System now owns 51,906 shares of the company valued at $2,254,000 after purchasing an additional 8,083 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Brighthouse Financial by 47.6% in Q3. Jacobs Levy Equity Management Inc. now owns 992,297 shares of the company valued at $43,086,000 after purchasing an additional 320,191 shares in the last quarter. Algert Global LLC increased its holdings of Brighthouse Financial shares by 128.6% in Q3. Algert Global LLC now owns 68,690 shares of the company worth $2,983,000 after purchasing an additional 38,640 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Brighthouse Financial by 188.8% during the 3rd quarter. Two Sigma Investments LP now owns 139,793 shares of the company valued at $6,070,000 after purchasing an additional 91,393 shares in the last quarter. 81.38% of the shares are held by hedge funds and other institutional investors.
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 offers variable, fixed, indexed and income annuities for policyholders’ needs for tax-deferred protected wealth accumulation, wealth transfer and income security.
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