Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

Is Brighthouse Financial (BHF) A Great Long-Term Buy?

Added 10-25-21 02:04:02pm EST - “Greenlight Capital, an investment management firm, published its third-quarter 2021 investor letter ?" a copy of which can be downloaded here. A quarterly return of -2.6% was recorded by the fund for the third quarter of 2021, compared…” - News.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From News.yahoo.com: “Is Brighthouse Financial (BHF) A Great Long-Term Buy?”. Below is an excerpt from the article.

Greenlight Capital, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of -2.6% was recorded by the fund for the third quarter of 2021, compared to the 0.6% for the S&P 500 index. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Greenlight Capital, in its Q3 2021 investor letter, mentioned Brighthouse Financial, Inc. (NASDAQ: BHF) and discussed its stance on the firm. Brighthouse Financial, Inc. is a Charlotte, North Carolina-based life insurance company with a $4.3 billion market capitalization. BHF delivered a 44.84% return since the beginning of the year, while its 12-month returns are up by 59.05%. The stock closed at $52.44 per share on October 22, 2021.

Here is what Greenlight Capital has to say about Brighthouse Financial, Inc. in its Q3 2021 investor letter:

"BHF reported what can only be called a stupendous result. BHF had adjusted operating earnings of $5.05 per share during the quarter compared to estimates of $3.28 per share. Full-year consensus moved from $13.75 to $16.18. The stock fell about 1% during the quarter to close at $45.23.

There is more to the story. BHF’s core business is variable annuities and to a lesser extent life insurance. But it also has something called a “closed block,” which is a bunch of legacy businesses that MetLife burdened BHF with at the time of the spin-off. These are business lines which are no longer being originated. BHF has them contained in a Delaware subsidiary for which there is minimal financial disclosure.

Read more...

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

Comment Box is loading comments...

CLICK TO SHARE

BACK TO THE HOME-PAGE