Brookfield Reinsurance (NYSE:BNRE) Reaches New 52-Week High – Here’s Why

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares reached a new 52-week high on Monday . The company traded as high as $56.70 and last traded at $55.41, with a volume of 9406 shares trading hands. The stock had previously closed at $56.43.

Brookfield Reinsurance Trading Down 1.8 %

The company has a market cap of $8.06 billion, a PE ratio of 162.48 and a beta of 1.53. The business’s 50 day moving average is $50.04 and its two-hundred day moving average is $45.48.

Brookfield Reinsurance (NYSE:BNRE) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.08 EPS for the quarter. Brookfield Reinsurance had a return on equity of 0.14% and a net margin of 0.10%. The business had revenue of $2.90 billion for the quarter.

Brookfield Reinsurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were paid a $0.08 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.58%. Brookfield Reinsurance’s payout ratio is 110.34%.

Hedge Funds Weigh In On Brookfield Reinsurance

Several institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its holdings in shares of Brookfield Reinsurance by 52.7% during the 2nd quarter. Mackenzie Financial Corp now owns 18,575 shares of the company’s stock worth $773,000 after acquiring an additional 6,410 shares in the last quarter. Swiss National Bank increased its position in Brookfield Reinsurance by 7.6% in the first quarter. Swiss National Bank now owns 15,600 shares of the company’s stock worth $656,000 after purchasing an additional 1,100 shares during the last quarter. Triasima Portfolio Management inc. increased its position in Brookfield Reinsurance by 74.0% in the second quarter. Triasima Portfolio Management inc. now owns 55,219 shares of the company’s stock worth $2,298,000 after purchasing an additional 23,488 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Brookfield Reinsurance during the second quarter valued at $369,000. Finally, Cowen AND Company LLC lifted its position in Brookfield Reinsurance by 2.0% during the second quarter. Cowen AND Company LLC now owns 50,885 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,000 shares during the last quarter. 7.19% of the stock is owned by hedge funds and other institutional investors.

Brookfield Reinsurance Company Profile

Brookfield Reinsurance Ltd., through its subsidiaries, provides insurance and reinsurance services to individuals and institutions in the United States, Canada, and internationally. The company operates in three segments: Direct Insurance, Reinsurance, and Pension Risk Transfer (PRT). The Direct Insurance segment offers a range of insurance products and services including Whole, Universal, Variable Universal, and Credit Life insurance products; deferred, single premium immediate, and variable annuities; primary and excess casualty products, such as specialty casualty, construction defect, general liability, commercial multi-peril, workers compensation, product liability, environmental liability, and auto liability; professional liability including management, transaction, and errors and omissions liability; property insurance for homeowners and renters, inland marine, and auto physical damages; surety, animal mortality, and ocean marine insurance; and health insurance, credit insurance, and pension products.