This preferred issue sits at the intersection of deeply questionable issuer fundamentals — negative free cash flow, a 36% revenue decline at the issuer level, and quality scoring well below the minimum floor — and a technical setup that lacks directional conviction; with only 2.1% headroom to near-term resistance and an unfavorable reward-to-risk ratio, the current entry does not meet the bar for asymmetric upside.
Thesis pillars
- Issuer Quality Below Acceptable Floor↑Improving
- Revenue Contraction At Issuer Level↑Improving
- Limited Upside To Resistance→Stable
- +1 more pillar — see the Why tab for full reasoning
Brighthouse Financial, Inc. - D (BHFAP) Stock Analysis
Financial Services · Insurance - Life
Hold if already holding. Not a fresh buy at $13.65, but acceptable to hold if already in. Reasons: Leverage penalty (D/E 1.8): -1.0; Negative momentum.
BHFAP represents Series A Preferred Stock of Brighthouse Financial, Inc., which provides annuity and life insurance to over 2.0 million contract holders in the U.S. across Annuities, Life, Run-off, and Corporate & Other segments. Total AUM was $206,157 million at year-end 2025,... Read more
Hold if already holding. Not a fresh buy at $13.65, but acceptable to hold if already in. Reasons: Leverage penalty (D/E 1.8): -1.0; Negative momentum. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 6.6/10, moderate confidence.
Passes 6/9 gates (clean insider activity, no SEC red flags, news events none recent, earnings proximity no date, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and death cross (50MA < 200MA). Suitability: moderate.
About Brighthouse Financial, Inc. - D
About Brighthouse Financial, Inc. - D
Brighthouse Financial managed $206,157 million in total assets under management at December 31, 2025, with the Annuities segment comprising $152,745 million and the Life segment $15,821 million. The company serves over 2.0 million annuity contracts and insurance policies in force, operating through Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. Substantially all premiums and policy fees originate in the U.S., delivered through independent distribution networks.
Brighthouse Financial earns revenue through mortality and expense fees, living and death benefit rider fees, investment management fees from Brighthouse Investment Advisers LLC, and spread income on general account assets. Shield Level Annuities generated $8,008 million in deposits in 2025, up from $6,857 million in 2023, with $35,621 million in liabilities outstanding at year-end 2025. The legacy variable annuity block carries $79,321 million in account value, of which approximately 75% includes guaranteed minimum living benefit riders—predominantly guaranteed minimum income benefits ($39,787 million account value) and guaranteed minimum withdrawal benefits ($19,094 million). In the third quarter of 2025, the company completed an initiative establishing standalone hedging programs separating Shield Annuity risk management from the variable annuity program. The Run-off segment holds $26,900 million in AUM tied to universal life secondary guarantee products sensitive to long-duration U.S. interest rate movements.
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On November 6, 2025, Brighthouse Financial entered into a Merger Agreement under which Aquarian Parent plans to acquire BHF as a wholly-owned subsidiary; stockholder approval was obtained on February 12, 2026. Regulatory approvals from insurance regulators in Delaware, New York, and Massachusetts, as well as FINRA Rule 1017 approval for the change in control of Brighthouse Securities LLC, remain outstanding conditions to closing. A termination fee of approximately $144 million would be owed under certain circumstances if the Merger is not completed. In July 2025, S&P revised BHF's long-term issuer credit ratings to BBB from BBB+ and revised certain insurance subsidiary financial strength ratings to A from A+, with additional rating agency actions following the Merger announcement.
See also: Financial Services · Insurance - Life
From Brighthouse Financial, Inc. - D's most recent 10-K filing, extracted June 9, 2026.
Thesis
Key Metrics
Quality Signals
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker·2 ceiling hits
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $13.65, but acceptable to hold if already in. Reasons: Leverage penalty (D/E 1.8): -1.0; Negative momentum. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Target $14.28 (+4.6%), stop $13.40 (−1.9%), A.R:R 0.0:1. Score 6.6/10, moderate confidence.
Take-profit target: $14.28 (+4.5% upside). Target $14.28 (+4.6%), stop $13.40 (−1.9%), A.R:R 0.0:1. Stop-loss: $13.40.
Leverage penalty (D/E 1.8): -1.0; Negative momentum; Below 200-day MA.
Brighthouse Financial, Inc. - D trades at a P/E of 1.1 (forward N/A). TrendMatrix value score: 10.0/10. Verdict: Hold.
15 analysts cover BHFAP with a consensus score of 2.5/5.
What does Brighthouse Financial, Inc. - D do?BHFAP represents Series A Preferred Stock of Brighthouse Financial, Inc., which provides annuity and life insurance to...
BHFAP represents Series A Preferred Stock of Brighthouse Financial, Inc., which provides annuity and life insurance to over 2.0 million contract holders in the U.S. across Annuities, Life, Run-off, and Corporate & Other segments. Total AUM was $206,157 million at year-end 2025, dominated by the Annuities segment at $152,745 million.