Brighthouse Financial
Sells annuities and life insurance while managing a legacy run-off book.
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Profile
Sells annuities and life insurance through third-party channels in the United States, while a Run-off segment manages legacy products. New sales emphasize Shield Level Annuities and life products; reinsurance and risk management shape the market-sensitive guarantee book.
Variable, fixed, index-linked and income annuities sit alongside term, universal, whole and variable life insurance. Annuities and Life are active sales lines, while Run-off manages products no longer sold, including legacy contracts from predecessor businesses. Corporate & Other supports the operating structure.
Sales flow through third-party distribution channels in the United States, with Shield Level Annuities and life products identified as flagship sales lines. The company separates parts of the variable-annuity and first-generation Shield businesses for risk-management purposes. The insurance model depends on regulation, reinsurance, hedge and risk-management work, and exposure to market conditions and policyholder behavior tied to annuity guarantees and legacy contracts.
Company facts
Categories
Key statistics
Year to date −17.8% · Average volume (30d) 950.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jan 8, 2026 | Barclays | Downgrade | Overweight | Equal Weight | $65 | |
| Nov 12, 2025 | Raymond James | Downgrade | Strong Buy | Market Perform | ||
| Nov 6, 2025 | Morgan Stanley | Target | $46 | $70 | ||
| Oct 9, 2025 | Evercore ISI | Target | $55 | |||
| Oct 7, 2025 | Morgan Stanley | Reiterate | Underweight | $52 | $46 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $4.86 | $4.45 | −8.4% | $2.18B | $2.11B | −3.4% | −2.20% |
| Aug 5, 2026Q2 FY26 | $4.86 | $4.45 | −8.4% | $2.18B | $2.11B | −3.4% | +0.50% |
| May 6, 2026Q1 FY26 | $4.75 | $4.35 | −8.4% | $2.20B | $2.09B | −4.9% | −1.42% |
| Feb 23, 2026Q4 FY25 | $5.19 | $3.93 | −24.3% | $2.24B | $2.17B | −3.4% | −1.09% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.32B | $790.0M | $1.71B | $1.56B | $1.40B | $1.62B | |
| Gross profit | −$14.0M | $414.0M | $872.0M | $859.0M | $761.0M | $1.03B | |
| Operating income | −$354.0M | $93.0M | $585.0M | $150.0M | −$986.0M | $1.23B | |
| Net income | −$268.0M | $85.0M | $479.0M | $137.0M | −$766.0M | $981.0M | |
| Diluted EPS | −$5.04 | $1.02 | $7.89 | $1.94 | −$13.72 | $16.56 | |
| Gross margin | -0.6% | 52.4% | 51.1% | 55.2% | 54.4% | 63.6% | |
| Operating margin | -15.3% | 11.8% | 34.3% | 9.6% | -70.5% | 75.6% |
Fiscal years (4-quarter sums)FY21 $6.09B · FY22 $7.21B · FY23 $3.95B · FY24 $4.44B · FY25 $6.37B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $7.11B · Total debt $3.15B · Total assets $247.18B · Shareholders' equity $6.55B
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 57.45M · Float 56.59M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.39M | 9.39% | 13F | Aug 7, 2026 |
| UBS Group AG | 4.20M | 7.31% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 3.63M | 6.30% | 13G | Jul 14, 2026 |
| Dme Capital Management, LP | 2.84M | 4.95% | 13F | Aug 14, 2026 |
| American Century Companies Inc | 2.65M | 4.62% | 13F | Aug 12, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Equitable
Large RILA, variable-annuity, and individual-life overlap
- Corebridge Financial
Large fixed, variable-annuity, and individual-life overlap
- Jackson Financial
Scaled variable-annuity and RILA retirement-product overlap
- Lincoln Financial
Variable and indexed annuities plus individual-life overlap
- Prudential Financial
RILA, fixed and variable annuities plus individual-life overlap
- F&G Annuities & Life
Fixed annuities and life-insurance overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Brighthouse Financial | $56.80 | +7.05% | $3.05B | 4.2 | 2.7 | 0.5 | +166.5% |
| Equitable | $49.68 | −1.04% | $13.70B | — | 6.2 | 1.3 | −29.8% |
| Corebridge Financial | $32.50 | −0.35% | $14.54B | 19.1 | 6.4 | 1.5 | +482.9% |
| Jackson Financial | $134.00 | −0.07% | $9.36B | 172.0 | 4.5 | 1.4 | — |
| Lincoln Financial | $43.25 | −0.07% | $8.29B | 3.7 | 5.3 | 0.4 | +21.2% |
| Prudential Financial | $119.79 | +0.01% | $41.57B | 10.8 | 8.5 | 0.6 | +2.8% |
| F&G Annuities & Life | $23.98 | −0.12% | $3.18B | 8.3 | 5.6 | 0.5 | +5.8% |
| Median | 10.8 | 5.9 | 1.0 | +5.8% |








