State of New Jersey Common Pension Fund D Sells 13,033 Shares of Brighthouse Financial, Inc. $BHF

State of New Jersey Common Pension Fund D cut its position in Brighthouse Financial, Inc. (NASDAQ:BHF) by 28.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,789 shares of the company’s stock after selling 13,033 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Brighthouse Financial worth $2,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Waterfront Wealth Inc. grew its stake in shares of Brighthouse Financial by 0.6% in the fourth quarter. Waterfront Wealth Inc. now owns 35,055 shares of the company’s stock valued at $2,255,000 after buying an additional 192 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after buying an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Brighthouse Financial by 1.8% in the third quarter. Public Employees Retirement System of Ohio now owns 18,394 shares of the company’s stock valued at $976,000 after buying an additional 323 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Brighthouse Financial by 225.5% in the third quarter. Hantz Financial Services Inc. now owns 664 shares of the company’s stock valued at $35,000 after buying an additional 460 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Brighthouse Financial by 35.0% in the fourth quarter. GAMMA Investing LLC now owns 1,881 shares of the company’s stock valued at $122,000 after buying an additional 488 shares in the last quarter. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Trading Down 0.5%

BHF stock opened at $61.38 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.95. The company has a fifty day moving average price of $60.76 and a two-hundred day moving average price of $61.88. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.33. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -20.60 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF) last released its quarterly earnings data on Thursday, May 7th. The company reported $4.35 EPS for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). Brighthouse Financial had a positive return on equity of 16.41% and a negative net margin of 1.10%.The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm earned $4.17 earnings per share. The company’s revenue for the quarter was down 29.4% compared to the same quarter last year. Equities analysts anticipate that Brighthouse Financial, Inc. will post 19.52 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $67.00 target price on shares of Brighthouse Financial in a research note on Thursday, March 26th. Zacks Research cut shares of Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, March 30th. Finally, Argus raised shares of Brighthouse Financial to a “hold” rating in a research report on Thursday, March 26th. Eight equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Brighthouse Financial currently has a consensus rating of “Reduce” and an average target price of $60.86.

About Brighthouse Financial

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.