Brighthouse Financial (NASDAQ:BHF) Reaches New 52-Week High - Here's Why

Key Points

• Brighthouse Financial shares hit a new 52-week high, trading as high as $66.42 on Monday before ending near $66.41. The move came on volume of 131,749 shares.
• Analyst sentiment remains cautious: multiple firms have recently issued or maintained Hold ratings, while Weiss Ratings downgraded the stock to Sell. MarketBeat shows a consensus rating of Reduce with an average price target of $60.50.
• Recent earnings missed expectations, with Brighthouse reporting $4.35 EPS versus the $4.57 consensus and revenue of $2.10 billion, down 29.4% year over year. Despite that, the company posted a positive return on equity of 16.88% and institutional investors own 81.24% of the stock.

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $66.42 and last traded at $66.41, with a volume of 131749 shares changing hands. The stock had previously closed at $66.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BHF shares. Zacks Research raised Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Keefe, Bruyette & Woods reissued a "hold" rating and issued a $67.00 price objective on shares of Brighthouse Financial in a research note on Thursday, March 26th. Argus upgraded Brighthouse Financial to a "hold" rating in a report on Thursday, March 26th. Weiss Ratings downgraded Brighthouse Financial from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Finally, Wall Street Zen raised shares of Brighthouse Financial to a "hold" rating in a research report on Sunday. Eight investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $60.50.

Brighthouse Financial Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $62.97 and a two-hundred day moving average price of $62.60. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -22.38 and a beta of 0.86.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 EPS for the quarter, missing analysts' consensus estimates of $4.57 by ($0.22). Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business earned $4.17 EPS. The firm's revenue for the quarter was down 29.4% on a year-over-year basis. As a group, equities research analysts anticipate that Brighthouse Financial, Inc. will post 19.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Brighthouse Financial

Several hedge funds have recently added to or reduced their stakes in the stock. HBK Investments L P bought a new stake in shares of Brighthouse Financial in the fourth quarter worth about $136,059,000. Glazer Capital LLC bought a new position in shares of Brighthouse Financial in the fourth quarter valued at $113,252,000. UBS Group AG increased its stake in shares of Brighthouse Financial by 98.1% during the 3rd quarter. UBS Group AG now owns 3,413,278 shares of the company's stock worth $181,177,000 after purchasing an additional 1,690,064 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Brighthouse Financial by 190.7% in the third quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company's stock valued at $74,113,000 after buying an additional 915,902 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Brighthouse Financial by 149.5% during the 4th quarter. Morgan Stanley now owns 1,264,992 shares of the company's stock valued at $81,959,000 after purchasing an additional 758,010 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company's stock.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company's core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.

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