In a report released yesterday, Elyse Greenspan from Wells Fargo maintained a Hold rating on Brighthouse Financial (BHF – Research Report), with a price target of $47.00.
Elyse Greenspan has given her Hold rating to Brighthouse Financial due to a mix of factors. The company’s Q3 operating earnings per share (EPS) of $4.18 excluding notables surpassed both Wells Fargo’s estimate of $3.34 and the consensus estimate of $3.92. This indicates the company is performing better than expected, which is a positive aspect.
However, when considering the adjusted EPS which includes normal Alternatives Net Investment Income (Alts NII), Brighthouse Financial’s EPS was $4.64, slightly above Wells Fargo’s normalized estimate of $4.42. This marginal outperformance signifies that, despite the positive earnings surprise, there are elements that may temper the stock’s upside potential. Hence, Greenspan’s decision to maintain a Hold rating for Brighthouse Financial.
According to TipRanks, Greenspan is a 5-star analyst with an average return of 10.7% and a 62.90% success rate. Greenspan covers the Financial sector, focusing on stocks such as Allstate, Progressive, and Brighthouse Financial.
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Brighthouse Financial (BHF) Company Description:
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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