Brighthouse Financial (NASDAQ:BHF) Hits New 52-Week Low - Here's What Happened

Key Points

• Brighthouse Financial shares hit a new 52-week low, falling to $45.64 and last trading near $45.86, below the previous close of $46.96.
• Analyst sentiment remains cautious: seven analysts rate the stock “Hold,” with a consensus price target of $61.25. JPMorgan and Keefe, Bruyette & Woods both lowered their price targets to $55.
• The company’s latest quarterly results missed expectations, with earnings per share of $4.45 versus the $4.86 consensus and revenue of $1.62 billion versus estimates of $2.18 billion; revenue also declined 2% year over year.

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report)'s stock price reached a new 52-week low on Thursday. The stock traded as low as $45.64 and last traded at $45.8610, with a volume of 96,347 shares trading hands. The stock had previously closed at $46.96.

Analyst Ratings Changes

BHF has been the subject of a number of research reports. Weiss Ratings cut shares of Brighthouse Financial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. raised Brighthouse Financial from an "underweight" rating to a "neutral" rating and cut their price objective for the company from $63.00 to $55.00 in a research report on Thursday, October 15th. Wall Street Zen raised Brighthouse Financial to a "hold" rating in a research report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on Brighthouse Financial from $57.00 to $55.00 and set a "market perform" rating on the stock in a research note on Thursday, October 15th. Seven analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.25.

Brighthouse Financial Trading Down 1.3%

The business's 50-day moving average price is $51.32 and its 200 day moving average price is $58.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 3.70, a PEG ratio of 0.63 and a beta of 0.83.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business posted $3.43 earnings per share. Brighthouse Financial's revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Brighthouse Financial, Inc. will post 18.84 earnings per share for the current fiscal year.

Institutional Trading of Brighthouse Financial

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Brighthouse Financial during the second quarter worth about $27,000. Bessemer Group Inc. grew its stake in Brighthouse Financial by 390.3% during the 1st quarter. Bessemer Group Inc. now owns 505 shares of the company's stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Mather Group LLC. increased its holdings in Brighthouse Financial by 8,900.0% during the 3rd quarter. Mather Group LLC. now owns 630 shares of the company's stock worth $31,000 after purchasing an additional 623 shares during the last quarter. Allworth Financial LP purchased a new stake in Brighthouse Financial during the 2nd quarter worth approximately $49,000. Finally, Global Retirement Partners LLC purchased a new stake in Brighthouse Financial during the 2nd quarter worth approximately $55,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

About Brighthouse Financial

Brighthouse Financial, Inc NASDAQ: BHF is a U.S.-focused provider of annuities and life insurance products. The company serves individuals and institutions seeking solutions for retirement income, wealth preservation, protection and legacy planning.

Its annuity offerings include fixed, variable, income and registered index-linked annuities, including the Brighthouse Shield line of products. Brighthouse also provides life insurance products designed to offer death-benefit protection and, depending on the policy, cash-value accumulation and other financial-planning features.

Brighthouse Financial was established as an independent public company in 2017 after being separated from MetLife.

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