John Rosenthal, Executive Vice President and Chief Investment Officer at Brighthouse Financial , Inc. (NASDAQ:BHF), a $3 billion market cap insurance company, recently sold 10,000 shares of the company's common stock. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment. The transaction, which took place on December 3, 2024, was executed at a price of $52.31 per share, totaling approximately $523,100. Following this sale, Rosenthal retains ownership of 76,262 shares. The sale was conducted under a Rule 10b5-1 trading plan, which was put in place earlier this year. The company maintains strong liquidity with a current ratio of 1.66, and management has been actively buying back shares, according to InvestingPro's comprehensive analysis, which offers additional insights through its detailed Pro Research Report covering 1,400+ US stocks.
In other recent news, Brighthouse Financial has released its Q3 2024 earnings. Despite a decrease in adjusted earnings to $243 million from previous quarters, the company emphasized its robust capital position and growth in annuity and life insurance sales. Annuity sales for the year were reported at $7.8 billion, with a 15% increase in Shield Annuity products, while life insurance sales increased by 19% to $87 million.
Brighthouse Financial is also focused on improving its risk-based capital (RBC) ratio, currently estimated between 365%-385%, and aims to restore it to 400%-450%. The company is in the process of concluding a reinsurance agreement expected to boost the RBC ratio. Moreover, the firm's liquid assets stand at $1.3 billion, with $64 million in stock repurchased in the third quarter.
These developments come as part of Brighthouse Financial's strategic efforts to enhance capital efficiency. The company remains optimistic about its financial standing and the ongoing simplification of its hedging strategy. It also anticipates a potential flow reinsurance deal in 2025 to further mitigate new business strain.
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