This company has multiple securities. Prices and statements refer to the specific listing shown for each assessment.
Brighthouse Financial, Inc.
Reviewed listing: NASDAQ:BHF · Analysis dated Oct 22, 2026
It has not been confirmed whether the basis of this analysis still holds today. Read it as a dated earlier assessment; it does not establish a current buying opportunity.
01
How does the company make money?
Brighthouse sells annuity and life insurance. Fees and investments fund benefits to customers. BHF is the common stock.
02
What supports the business?
Adjusted first-half earnings increased by 14.8% to 497 million USD. Lower claims costs helped the ongoing business.
03
What could improve?
If the agreed acquisition closes, common shareholders will receive 70 USD per share. Compared with the stored share price of 46.96 USD, that would be 49.1% before costs and taxes; closing is not certain.
04
How is the stock price assessed?
46.96 USDReviewed share price dated
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
46.96 USD appears low relative to the conditional offer. Without a reliable assessment of the probability and duration of the remaining approvals, no reliably favorable purchase price can be derived from it.
05
What is the main risk?
If the acquisition fails or is delayed, the fluctuating insurance profit matters again. The holding company cannot freely access all the funds of its insurance subsidiaries.
06
What is the overall assessment?
Watch: profitable insurer with substantial earnings volatility and a conditional takeover offer. The large gap to 70 USD is not a guaranteed return.
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Brighthouse Financial, Inc. - Depositary shares each representing a 1/1,000th Interest in a Share of 4.625% Non-Cumulative Preferred Stock, Series D
Reviewed listing: NASDAQ:BHFAM · Analysis dated Oct 22, 2026
It has not been confirmed whether the basis of this analysis still holds today. Read it as a dated earlier assessment; it does not establish a current buying opportunity.
01
How does the company make money?
BHFAM represents 1/1,000 of a Brighthouse Series D preferred share. The underlying company is the U.S. annuity and life insurer; this security is not common stock.
02
What supports the business?
The contractual rate is 4.625% on a reference amount of 25 USD per trading unit. Preferred shareholders rank ahead of common shareholders for distributions and in liquidation, but behind creditors.
03
What could improve?
With a full annual declaration, 1.15625 USD per unit would be paid. If the risk return demanded by the market falls, the price may rise. Redemption at 25 USD is the issuer's right, not a claim to repayment on a fixed maturity date.
04
How is the stock price assessed?
9.44 USDReviewed share price dated
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
At the stored price of 9.44 USD, the full annual dividend mathematically equals 12.25%. That may appear attractive; however, missed, undeclared dividends are not made up later. Therefore, fair value remains uncertain without a reliable assessment of distributions and risk.
05
What is the main risk?
There is no fixed repayment date. Dividends can be suspended indefinitely, and in the event of insolvency or liquidation, losses may far exceed the loss of one year’s dividend. The planned acquisition pays this security no 70 USD.
06
What is the overall assessment?
Watch: BHFAM is a non-cumulative Series D preferred depositary trading unit. The calculated distribution yield of 12.25% compensates for significant default, maturity, and tradability risks; there is no 70 USD takeover claim.
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Brighthouse Financial, Inc. - depositary shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series C
Reviewed listing: NASDAQ:BHFAN · Analysis dated Oct 22, 2026
It has not been confirmed whether the basis of this analysis still holds today. Read it as a dated earlier assessment; it does not establish a current buying opportunity.
01
How does the company make money?
BHFAN represents 1/1,000 of a Brighthouse Series C preferred share. The underlying company is the US annuity and life insurer; this security is not common stock.
02
What supports the business?
The contractual rate is 5.375% on a 25 USD reference amount per trading unit. Preferred shareholders rank ahead of common shareholders for distributions and liquidation, but behind creditors.
03
What could improve?
If the full annual distribution is declared, 1.34375 USD per unit would be paid. If the risk return demanded by the market falls, the price could rise. Repayment at 25 USD is a right of the issuer, not an entitlement on a fixed maturity date.
04
How is the stock price assessed?
10.49 USDReviewed share price dated
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
At the saved price of 10.49 USD, the full annual dividend works out to 12.81%. That may look attractive; however, missed dividends that were not declared are not made up later. Therefore, fair value remains uncertain without a well-supported assessment of distributions and risk.
05
What is the main risk?
There is no fixed repayment date. Dividends can be suspended indefinitely, and in the event of insolvency or liquidation, losses may far exceed the loss of one year’s dividend. The planned acquisition pays this security no 70 USD.
06
What is the overall assessment?
Watch: BHFAN is a non-cumulative Series C preferred depositary trading unit. Its calculated distribution yield of 12.81% compensates for significant default, term, and tradability risks; there is no claim to a 70 USD takeover.
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Marqora selects companies for closer review. Existing analyses are prepared with AI using source evidence and are independently reviewed. This page reproduces the approved statements. The English text is translated from the same analysis version and reviewed separately.
Assumptions, data gaps and counterarguments are part of the assessment. The analysis does not replace your own checks or take your personal circumstances into account.
Editorial responsibility: Frank Herrmann. Legal notice
