State of New Jersey Common Pension Fund D Has $2.43 Million Stock Position in Brighthouse Financial, Inc. $BHF

State of New Jersey Common Pension Fund D lifted its position in Brighthouse Financial, Inc. (NASDAQ:BHF) by 43.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,822 shares of the company’s stock after acquiring an additional 13,774 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Brighthouse Financial worth $2,432,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Four Tree Island Advisory LLC grew its position in Brighthouse Financial by 85.6% during the 3rd quarter. Four Tree Island Advisory LLC now owns 22,762 shares of the company’s stock worth $1,210,000 after purchasing an additional 10,500 shares in the last quarter. Waterfront Wealth Inc. acquired a new stake in shares of Brighthouse Financial in the third quarter worth $1,851,000. Carlson Capital L.P. purchased a new position in shares of Brighthouse Financial during the third quarter valued at $796,000. Optimize Financial Inc raised its position in Brighthouse Financial by 53.1% during the third quarter. Optimize Financial Inc now owns 10,205 shares of the company’s stock valued at $542,000 after buying an additional 3,541 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in Brighthouse Financial by 137.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 32,002 shares of the company’s stock worth $1,699,000 after acquiring an additional 18,518 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Brighthouse Financial Trading Up 0.4%

Shares of NASDAQ:BHF opened at $63.93 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.66 billion, a PE ratio of 4.36 and a beta of 0.97. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $66.33. The firm has a fifty day moving average price of $64.36 and a 200 day moving average price of $57.26.

Analyst Ratings Changes

Several research firms have weighed in on BHF. Raymond James Financial reaffirmed a “market perform” rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Brighthouse Financial from $50.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, November 7th. Morgan Stanley set a $70.00 target price on shares of Brighthouse Financial in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Brighthouse Financial in a report on Monday, December 29th. Finally, Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 17th. Eight investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $63.67.

Brighthouse Financial Profile

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.