Blurbs

Jefferies Remains a Hold on Brighthouse Financial (BHF)

In a report issued on June 5, Suneet Kamath from Jefferies maintained a Hold rating on Brighthouse Financial (BHFResearch Report), with a price target of $50.00. The company’s shares closed last Thursday at $39.29, close to its 52-week low of $38.82.

According to TipRanks.com, Kamath is a 4-star analyst with an average return of 4.9% and a 55.2% success rate. Kamath covers the Financial sector, focusing on stocks such as Jackson Financial Incorporation, American Equity Investment Life, and Ameriprise Financial.

Currently, the analyst consensus on Brighthouse Financial is a Hold with an average price target of $55.00, which is a 34.1% upside from current levels. In a report issued on May 27, Piper Sandler also maintained a Hold rating on the stock with a $50.00 price target.

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Based on Brighthouse Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.74 billion and net profit of $640 million. In comparison, last year the company earned revenue of $938 million and had a GAAP net loss of $585 million.

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Brighthouse Financial, Inc. operates as a holding company, which engages in the provision of life insurance and annuities through independent distribution channels and marketing arrangements with diverse network of distribution partners. It operates through the following segments: Annuities; Life; Run-Off; and Corporate & Others. The Annuities segment product offerings include fixed, structured, income and variable annuities. The Life segment manufactures products to serve its target segments through a broad independent distribution network. The Run-Off segment includes structured settlements, pension risk transfer contracts, certain company-owned life insurance policies, funding agreements and universal life with secondary guarantees. The Corporate & Other segment refers to the general account investments and the separate account assets of the company. The company was founded on August 1, 2016 and is headquartered in Charlotte, NC.

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