BHF - Brighthouse Financial eases up on pace of stock buybacks amid uncertain markets

• Brighthouse Financial ( NASDAQ: BHF ) has reduced its pace of stock buybacks "to reflect a cautious view on both the market and economic environment," BHF President and CEO Eric Steigerwalt told investors on the company's Q4 earnings call.
• The insurer remains committed to returning capital to shareholders and plans to continue its opportunistic share repurchase program. "However, as we have demonstrated in uncertain market environments, we are focused on protecting our distribution franchise," Steigerwalt said.
• In 2022, Brighthouse ( BHF ) repurchased $488MN of common stock, including $93M in Q4, the company said. In the year-to-date through Feb. 7, it has repurchased ~$27M, he said.
• At Dec. 31, 2022, the company's total adjusted capital (TAC) was $8.1B, up from $8.0B at Sept. 30.
• BHF stock is little changed at $57.85 in Friday afternoon trading.
• In Thursday after-hours trading, Brighthouse ( BHF ) stock rose 11% after its Q4 adjusted EPS, less notable items, of $3.51 beat the average analyst estimate of $2.31. Q4 net investment income of $1.05B increased by $182M sequentially, helped by higher alternative investment income and asset growth.

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