Brighthouse Financial (NASDAQ: BHF) have not been pleasant to shareholders in their first couple of months as a public company. They dropped ~16% since their debut on August 7, 2017, and currently trading at all-time lows around $52.
Despite these initial headwinds, we do believe there is value to be obtained from ownership of BHF if one is to remain patient and rates continue to head higher as expected.
Life insurance sales have been declining (both absolutely and relative to the overall mix) due to a change in strategy designed to convey simpler life insurance solutions. Results have also been hampered by unfavorable underwriting due to elevated mortality.
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