Brookfield Reinsurance (NYSE:BNRE) Sets New 12-Month High – Here’s Why

Brookfield Reinsurance Ltd. (NYSE:BNRE)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $60.29 and last traded at $60.29, with a volume of 8126 shares traded. The stock had previously closed at $59.75.

Brookfield Reinsurance Trading Up 0.9 %

The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 206.03 and a beta of 1.53. The firm’s fifty day moving average price is $54.00 and its 200 day moving average price is $48.13.

Brookfield Reinsurance Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. Brookfield Reinsurance’s payout ratio is currently 110.34%.

Hedge Funds Weigh In On Brookfield Reinsurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new stake in shares of Brookfield Reinsurance during the 2nd quarter worth $369,000. Mackenzie Financial Corp raised its stake in 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. Cowen AND Company LLC raised its stake in Brookfield Reinsurance by 2.0% during the 2nd quarter. Cowen AND Company LLC now owns 50,885 shares of the company’s stock worth $2,116,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Triasima Portfolio Management inc. raised its stake in Brookfield Reinsurance by 74.0% during the 2nd quarter. Triasima Portfolio Management inc. now owns 55,219 shares of the company’s stock worth $2,298,000 after acquiring an additional 23,488 shares in the last quarter. Hedge funds and other 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.