Brighthouse Financial Expands Existing Share Repurchase Program
On February 10, Brighthouse Financial Inc., (BHF) reported that the company’s Board of Directors authorized a $500 million share repurchase program. This authorization is in addition to the $600 million in share repurchase authorization outstanding from August 2018 and May 2019. Brighthouse Financial has already repurchased approximately $570 million in common stock.
Sonal alerted subscribers to the event at 4:15 pm. The next trade took place at 4:16 pm for $42.41. The stock price spiked above $47 at the regular market open the next morning and maintained the gains throughout the day. Brighthouse Financial closed at $46.60 for an event-day gain of 9.9%.
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