Brookfield Reinsurance (NYSE:BNRE) Sets New 12-Month High – Should You Buy?

Brookfield Reinsurance Ltd. (NYSE:BNRE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $56.74 and last traded at $56.13, with a volume of 13191 shares changing hands. The stock had previously closed at $56.87.

Brookfield Reinsurance Stock Down 0.7 %

The company has a market cap of $8.21 billion, a PE ratio of 195.93 and a beta of 1.53. The company has a 50-day moving average of $53.26 and a 200-day moving average of $47.75.

Brookfield Reinsurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Thursday, September 12th. Brookfield Reinsurance’s payout ratio is currently 110.34%.

Institutional Trading of Brookfield Reinsurance

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp boosted its stake in Brookfield Reinsurance by 52.7% in the second quarter. Mackenzie Financial Corp now owns 18,575 shares of the company’s stock valued at $773,000 after acquiring an additional 6,410 shares during the last quarter. Swiss National Bank raised its holdings in shares of Brookfield Reinsurance by 7.6% in the 1st 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 period. Triasima Portfolio Management inc. lifted its stake in Brookfield Reinsurance by 74.0% in the second quarter. Triasima Portfolio Management inc. now owns 55,219 shares of the company’s stock valued at $2,298,000 after purchasing an additional 23,488 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Brookfield Reinsurance in the second quarter valued at approximately $369,000. Finally, Cowen AND Company LLC grew its holdings 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 period. 7.19% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Reinsurance

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.