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

Shares of Brookfield Reinsurance Ltd. (NYSE:BNRE) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.73 and last traded at $54.59, with a volume of 5135 shares trading hands. The stock had previously closed at $53.40.

Brookfield Reinsurance Stock Performance

The stock’s 50-day moving average is $50.96 and its 200 day moving average is $46.06. The firm has a market cap of $7.78 billion, a P/E ratio of 184.31 and a beta of 1.53.

Brookfield Reinsurance (NYSE:BNRE) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $2.90 billion during the quarter. Brookfield Reinsurance had a return on equity of 0.14% and a net margin of 0.10%.

Brookfield Reinsurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield Reinsurance’s dividend payout ratio (DPR) is presently 110.34%.

Hedge Funds Weigh In On Brookfield Reinsurance

A number of large investors have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its stake 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 during the last quarter. Swiss National Bank boosted its position in Brookfield Reinsurance by 7.6% during the first quarter. Swiss National Bank now owns 15,600 shares of the company’s stock valued at $656,000 after purchasing an additional 1,100 shares during the last quarter. Triasima Portfolio Management inc. grew 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Brookfield Reinsurance during the 2nd quarter worth approximately $369,000. Finally, Cowen AND Company LLC raised its stake in shares of 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 purchasing an additional 1,000 shares in the last quarter. 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.