Brighthouse Financial Upsizes its Share Repurchase by $750 Million – Buyback Wednesdays
Brighthouse Financial, a Fortune 500 company with over 2 million customers and $230 billion in total assets, is one of the largest providers of annuities and life insurance in the U.S. The company is a buyback machine, repurchasing over 40% of its outstanding stock over the last 4 years.
Brighthouse Financial, Inc. (BHF): $52.34
Market Cap: $3.36B
EV: $10.16B
Key Insights
- Brighthouse Financial was spun out of MetLife (MET) in 2017 and has managed to grow revenue at a stable rate since then despite challenging market conditions.
- Post spin, BHF has been gradually shifting its product mix to offer simpler variable annuities, which are easier to manage and reduce complexity.
- The company’s management has significant industry experience and prefers share repurchases over dividends.
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