Oregon Public Employees Retirement Fund Has $1.40 Million Holdings in Brighthouse Financial Inc (BHF)
Oregon Public Employees Retirement Fund raised its stake in Brighthouse Financial Inc (NASDAQ:BHF) by 25.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,917 shares of the company’s stock after buying an additional 7,083 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Brighthouse Financial were worth $1,399,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of BHF. Stratos Wealth Partners LTD. acquired a new position in shares of Brighthouse Financial in the 1st quarter valued at $105,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in shares of Brighthouse Financial in the 1st quarter valued at $145,000. Municipal Employees Retirement System of Michigan acquired a new position in Brighthouse Financial during the 1st quarter worth about $127,000. Envestnet Asset Management Inc. acquired a new position in Brighthouse Financial during the 1st quarter worth about $173,000. Finally, Ostrum Asset Management acquired a new position in Brighthouse Financial during the 1st quarter worth about $187,000. Institutional investors own 87.42% of the company’s stock.
NASDAQ:BHF opened at $41.97 on Monday. The company has a market cap of $4.82 billion and a P/E ratio of 6.23. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.27. Brighthouse Financial Inc has a 52-week low of $39.24 and a 52-week high of $67.55.
Several brokerages have weighed in on BHF. ValuEngine upgraded Brighthouse Financial from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Credit Suisse Group upgraded Brighthouse Financial from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a report on Wednesday, August 15th. They noted that the move was a valuation call. Barclays downgraded Brighthouse Financial from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a report on Friday, August 10th. B. Riley dropped their price objective on Brighthouse Financial from $59.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 16th. Finally, Morgan Stanley dropped their price objective on Brighthouse Financial from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 11th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $57.57.
Brighthouse Financial Company Profile
Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It offers variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.
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