Brookfield Reinsurance (NYSE:BNRE) Reaches New 12-Month High – What’s Next?

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares hit a new 52-week high during trading 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 firm’s 50 day simple moving average is $54.18 and its 200-day simple moving average is $48.24. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 207.90 and a beta of 1.53.

Brookfield Reinsurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.53%. Brookfield Reinsurance’s payout ratio is presently 110.34%.

Institutional Investors Weigh In On Brookfield Reinsurance

Several large investors have recently made changes to their positions in BNRE. 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 acquiring an additional 23,488 shares during the last quarter. Cowen AND Company LLC lifted its stake in Brookfield Reinsurance by 2.0% in the 2nd 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. Mackenzie Financial Corp increased its position in Brookfield Reinsurance by 52.7% during 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 last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Brookfield Reinsurance in the second quarter valued at approximately $369,000. Institutional investors and hedge funds 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.