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Eric T. Steigerwalt, President and CEO of Brighthouse Financial , Inc. (NASDAQ:BHF), a $3.46 billion financial services company, recently sold a significant portion of his holdings in the company. According to a recent Form 4 filing with the Securities and Exchange Commission, Steigerwalt sold a total of 25,000 shares of common stock on February 26, 2025. The shares were sold at prices ranging from $58.46 to $59.68, generating a total of approximately $1.48 million. InvestingPro analysis indicates the stock is currently undervalued based on its Fair Value model.
Following these transactions, Steigerwalt retains ownership of 271,072 shares in the company. The sales were executed under a pre-established Rule 10b5-1 trading plan, which provides executives with a mechanism to sell shares at predetermined times, thereby mitigating potential accusations of insider trading. Notably, while this insider sale occurred, the stock has shown strong momentum with a 28.53% return over the past six months, and the company maintains robust liquidity with a current ratio of 8.6.Get deeper insights into BHF’s valuation and 8 additional key metrics with InvestingPro, including exclusive ProTips and comprehensive analysis.
This transaction provides insight into the trading activities of Brighthouse Financial’s top executive, offering investors a closer look at the company’s insider dynamics, particularly interesting given management’s aggressive share buyback program.
In other recent news, Brighthouse Financial reported fourth-quarter earnings that exceeded analyst expectations. The company posted adjusted earnings of $5.88 per share, surpassing the consensus estimate of $4.50. This marks a significant increase from the $2.92 per share reported in the same quarter the previous year. Revenue for the fourth quarter was reported at $1.2 billion, though it may not be directly comparable to the analyst estimates of $2.2 billion. The company also noted a net income available to shareholders of $646 million, a turnaround from a net loss of $942 million in the fourth quarter of 2023. Annuity sales decreased by 18% year-over-year to $2.24 billion, mainly due to reduced sales of fixed deferred annuities, although this was partially offset by record sales of Shield Level Annuities. Additionally, Brighthouse Financial completed a reinsurance transaction for a legacy block of universal life and variable universal life products. The company repurchased $60 million of its common stock during the quarter, totaling $250 million for the year, which reduced shares outstanding by approximately 8% compared to year-end 2023. The quarter concluded with an estimated combined risk-based capital ratio of around 400% and holding company liquid assets of $1.1 billion.
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