Brighthouse Financial (NASDAQ:BHF) Reaches New 12-Month Low - Here's Why

Key Points

• Brighthouse Financial hit a new 12-month low, falling to $41.60 during Thursday trading, below its previous close of $42.45.
• Analysts’ consensus rating is Hold, with an average price target of $61.25; JPMorgan and Keefe, Bruyette & Woods recently cut their targets to $55.
• The company’s latest reported quarter missed expectations: earnings were $4.45 per share versus $4.86 forecast, while revenue was $1.62 billion versus $2.18 billion expected.

Brighthouse Financial, Inc. (NASDAQ:BHF - Get Free Report) hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $41.60 and last traded at $41.7650, with a volume of 128,559 shares trading hands. The stock had previously closed at $42.45.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings downgraded shares of Brighthouse Financial from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 10th. JPMorgan Chase & Co. upgraded Brighthouse Financial from an "underweight" rating to a "neutral" rating and lowered their target price for the stock from $63.00 to $55.00 in a report on Thursday, October 15th. Wall Street Zen upgraded Brighthouse Financial to a "hold" rating in a research report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods dropped their price target on Brighthouse Financial from $57.00 to $55.00 and set a "market perform" rating for the company in a research report on Thursday, October 15th. Seven research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $61.25.

Brighthouse Financial Price Performance

The stock has a market cap of $2.37 billion, a PE ratio of 3.29, a price-to-earnings-growth ratio of 0.57 and a beta of 0.81. The stock's fifty day moving average is $49.26 and its 200-day moving average is $58.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BHF. New York Life Investment Management LLC grew its position in Brighthouse Financial by 15.5% in the 3rd quarter. New York Life Investment Management LLC now owns 68,807 shares of the company's stock valued at $3,433,000 after buying an additional 9,249 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in Brighthouse Financial during the 3rd quarter worth $68,000. Parallel Advisors LLC raised its position in Brighthouse Financial by 17.2% during the 3rd quarter. Parallel Advisors LLC now owns 3,218 shares of the company's stock worth $161,000 after buying an additional 472 shares during the last quarter. Verde Servicos Internacionais S.A. acquired a new stake in shares of Brighthouse Financial in the 3rd quarter worth $349,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Brighthouse Financial by 104.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 12,696 shares of the company's stock worth $608,000 after acquiring an additional 6,488 shares during the period. Institutional investors and hedge funds own 81.24% of the company's stock.

Brighthouse Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.