Brighthouse Financial stock hits 52-week high at $64.06

In a remarkable display of resilience, Brighthouse Financial , Inc. (NASDAQ:BHF) stock has soared to a 52-week high, reaching a price level of $64.06. With a market capitalization of $3.7 billion and management actively buying back shares, InvestingPro analysis suggests the stock remains undervalued relative to its Fair Value. This peak reflects a significant turnaround for the company, which has seen its stock value climb by an impressive 31.87% over the past year, supported by strong revenue growth of 16.33% and a modest P/E ratio of 13.5. Investors have shown increased confidence in Brighthouse Financial’s strategic initiatives and financial performance, propelling the stock to new heights and marking a period of robust growth for the insurer amidst a challenging economic landscape. InvestingPro subscribers have access to 12 additional exclusive tips and comprehensive analysis about BHF’s growth potential.

In other recent news, Brighthouse Financial reported fourth-quarter earnings that exceeded analyst expectations. The company achieved adjusted earnings of $5.88 per share, surpassing the consensus estimate of $4.50. This marks a substantial increase from $2.92 per share in the same quarter the previous year. Revenue for the quarter was reported at $1.2 billion, although this figure may not align directly with analyst expectations of $2.2 billion. Brighthouse Financial also reported a net income available to shareholders of $646 million, a notable turnaround from a net loss of $942 million in the fourth quarter of 2023. Annuity sales saw an 18% year-over-year decline to $2.24 billion, attributed mainly to decreased sales of fixed deferred annuities, though record sales of Shield Level Annuities provided some offset. The company completed a reinsurance transaction for a legacy block of universal life and variable universal life products, aligning with its capital-focused strategic initiatives. Additionally, Brighthouse Financial repurchased $60 million of its common stock during the quarter, contributing to a total of $250 million in repurchases for the year 2024. The company concluded the quarter with an estimated combined risk-based capital ratio of approximately 400% and holding company liquid assets of $1.1 billion.

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