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

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares hit a new 52-week high during trading on Monday . The company traded as high as $54.45 and last traded at $54.06, with a volume of 21739 shares changing hands. The stock had previously closed at $53.28.

Brookfield Reinsurance Stock Up 1.5 %

The stock has a 50-day simple moving average of $51.37 and a 200-day simple moving average of $46.47. The firm has a market capitalization of $7.86 billion, a PE ratio of 183.72 and a beta of 1.53.

Brookfield Reinsurance (NYSE:BNRE) last posted its quarterly earnings results 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 firm had revenue of $2.90 billion during the quarter.

Brookfield Reinsurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield Reinsurance’s dividend payout ratio is 110.34%.

Institutional Investors Weigh In On Brookfield Reinsurance

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its holdings in shares of Brookfield Reinsurance by 52.7% in the second quarter. Mackenzie Financial Corp now owns 18,575 shares of the company’s stock worth $773,000 after buying an additional 6,410 shares during the period. Cowen AND Company LLC increased its holdings in shares of Brookfield Reinsurance by 2.0% in the second quarter. Cowen AND Company LLC now owns 50,885 shares of the company’s stock worth $2,116,000 after buying an additional 1,000 shares during the period. Triasima Portfolio Management inc. increased its holdings in shares of 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 buying an additional 23,488 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Brookfield Reinsurance in the second quarter worth about $369,000. Finally, Swiss National Bank increased its holdings in shares of 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 buying an additional 1,100 shares during the period. Institutional investors own 7.19% of the company’s stock.

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.