Is it Still a Good Move to Invest in Brighthouse Financial (BHF)?

Greenlight Capital, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. The Greenlight Capital funds (the “Partnerships”) returned 8.4% in the second quarter of 2022 and 13.2% for the first half of 2022, compared to a 16.1% decline and a 20.0% decline for the S&P 500 index for the quarter and a half year, respectively. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Greenlight Capital mentioned Brighthouse Financial, Inc. (NASDAQ:BHF) and explained its insights for the company. Founded in 2016, Brighthouse Financial, Inc. (NASDAQ:BHF) is a Charlotte, North Carolina-based life insurance company with a $3.6 billion market capitalization. Brighthouse Financial, Inc. (NASDAQ:BHF) delivered a -2.72% return since the beginning of the year, while its 12-month returns are down by 4.41%. The stock closed at $50.39 per share on August 12, 2022.

Here is what Greenlight Capital has to say about Brighthouse Financial, Inc. (NASDAQ:BHF) in its Q2 2022 investor letter:

“Brighthouse Financial (NASDAQ:BHF). The shares ended the quarter at $41.02. This is about 25% of book value and less than 3x consensus earnings. We expect the company to repurchase 10-
20% of its shares this year.”

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Our calculations show that Brighthouse Financial, Inc. (NASDAQ:BHF) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Brighthouse Financial, Inc. (NASDAQ:BHF) was in 32 hedge fund portfolios at the end of the second quarter of 2022, compared to 30 funds in the previous quarter. Brighthouse Financial, Inc. (NASDAQ:BHF) delivered a 10.00% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on Brighthouse Financial, Inc. (NASDAQ:BHF) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.