Brookfield Reinsurance (NYSE:BNRE) Hits New 1-Year High – Time to Buy?

Shares of Brookfield Reinsurance Ltd. (NYSE:BNRE) hit a new 52-week high during trading on Tuesday . The stock traded as high as $58.87 and last traded at $57.84, with a volume of 13585 shares trading hands. The stock had previously closed at $58.95.

Brookfield Reinsurance Price Performance

The stock’s 50 day simple moving average is $52.03 and its two-hundred day simple moving average is $47.06. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 199.45 and a beta of 1.53.

Brookfield Reinsurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. Brookfield Reinsurance’s dividend payout ratio is currently 110.34%.

Institutional Investors Weigh In On Brookfield Reinsurance

Large investors have recently made changes to their positions in the business. Cowen AND Company LLC lifted its position 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 in the last quarter. Swiss National Bank grew its stake in 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 acquiring an additional 1,100 shares in the last quarter. Mackenzie Financial Corp grew its position 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 buying an additional 6,410 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Brookfield Reinsurance during the 2nd quarter valued at about $369,000. Finally, Triasima Portfolio Management inc. boosted its position in Brookfield Reinsurance by 74.0% during 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 in the last quarter. 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.