Shares of Brighthouse Financial Inc (BHF) tumbled 5.25% in pre-market trading on Friday following the release of its disappointing second-quarter earnings report. The multiline insurance company's results fell short of Wall Street expectations, triggering a sell-off in early trading.

Brighthouse Financial reported adjusted earnings of $3.43 per share for the quarter ended June 30, significantly lower than the $5.57 per share reported in the same quarter last year. This figure also missed the mean analyst estimate of $4.55 per share. The company's revenue also declined sharply to $871 million, down from $1.43 billion in the previous year, and well below the $2.28 billion expected by analysts.

In response to the earnings miss, several analysts adjusted their outlook on Brighthouse Financial. Barclays lowered its price target on BHF to $65 from $70, while maintaining an Overweight rating. Piper Sandler reiterated a Hold rating with a price target of $55.00. The current average analyst rating on the shares is "hold," with Wall Street's median 12-month price target standing at $56.00, approximately 17.7% above its last closing price of $46.07.