Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Issuer Common Equity
BHF’s common stock, par value $0.01 per share, trades on the Nasdaq under the symbol “BHF.”
As of February 17, 2023, there were approximately 1.3 million registered holders of record of our common stock. The actual number of holders of our common stock is substantially greater than this number of record holders, and includes stockholders who are beneficial owners, but whose shares are held in “street name” by banks, brokers, and other financial institutions.
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We currently have no plans to declare and pay dividends on our common stock. See “Risk Factors — Risks Related to Our Securities — We currently have no plans to declare or pay dividends on our common stock, and legal restrictions could limit our ability to pay dividends on our capital stock and our ability to repurchase our common stock at the level we wish” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — The Company — Capital.”
Stock Performance Graph
The graph and table below present BHF’s cumulative total shareholder return relative to the performance of (1) the S&P 500 Index, (2) the S&P 500 Financials Index, (3) the S&P 500 Insurance Index and (4) the S&P 500 Life & Health Insurance Index, respectively, for the five-year period ended December 31, 2022. The S&P Life & Health Insurance Index will replace the S&P 500 Insurance Index in future Annual Reports on Form 10-K. We believe the S&P 500 Life & Health Insurance Index is a more closely comparable benchmark in relation to our business model than the broader S&P 500 Insurance Index.
All values assume a $100 initial investment at the opening price of BHF’s common stock on the Nasdaq and data for each of the S&P 500 Index, the S&P 500 Financials Index, the S&P 500 Insurance Index and the S&P 500 Life & Health Insurance Index assume all dividends were reinvested on the date paid. The points on the graph and the values in the table represent month-end values based on the last trading day of each month. The comparisons are based on historical data and are not indicative of, nor intended to forecast, the future performance of our common stock.
Dec 31, 2017 Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 Dec 31, 2021 Dec 31, 2022
BHF common stock $ 100.00 $ 51.98 $ 66.90 $ 61.74 $ 88.34 $ 87.43
S&P 500 $ 100.00 $ 95.62 $ 125.72 $ 148.85 $ 191.58 $ 156.88
S&P 500 Financials $ 100.00 $ 86.97 $ 114.91 $ 112.96 $ 152.54 $ 136.48
S&P 500 Insurance $ 100.00 $ 88.79 $ 114.88 $ 114.38 $ 151.12 $ 166.42
S&P 500 Life & Health Insurance $ 100.00 $ 79.23 $ 97.60 $ 88.35 $ 120.76 $ 133.25
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Issuer Purchases of Equity Securities
Purchases of BHF common stock made by or on behalf of BHF or its affiliates during the three months ended December 31, 2022 are set forth below:
Period Total Number of Shares Purchased (1) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
(In millions)
October 1 — October 31, 2022 851,594 $ 48.84 852,155 $ 344
November 1 — November 30, 2022 544,830 $ 54.68 544,956 $ 315
December 1 — December 31, 2022 408,724 $ 52.29 408,724 $ 293
Total 1,805,148 1,805,835
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(1) Where applicable, total number of shares purchased includes shares of common stock withheld with respect to option exercise costs and tax withholding obligations associated with the exercise or vesting of share-based compensation awards under our publicly announced benefit plans or programs.
(2) See “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — The Company — Primary Uses of Liquidity and Capital — Common Stock Repurchases” and Note 10 of the Notes to the Consolidated Financial Statements for more information on common stock repurchases.
Item 6. [Reserved]
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.