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

by · The Markets Daily

Brookfield Reinsurance Ltd. (NYSE:BNRE – Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $54.07 and last traded at $53.95, with a volume of 5605 shares. The stock had previously closed at $53.62.

Brookfield Reinsurance Stock Up 0.6 %

The firm has a market cap of $7.85 billion, a PE ratio of 162.48 and a beta of 1.53. The stock’s fifty day simple moving average is $49.07 and its two-hundred day simple moving average is $45.01.

Brookfield Reinsurance (NYSE:BNRE – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.08 EPS for the quarter. Brookfield Reinsurance had a net margin of 0.10% and a return on equity of 0.14%. The firm had revenue of $2.90 billion for the quarter.

Brookfield Reinsurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 dividend yield of 0.59%. The ex-dividend date was Thursday, September 12th. Brookfield Reinsurance’s payout ratio is 110.34%.

Institutional Investors Weigh In On Brookfield Reinsurance

A number of institutional investors have recently made changes to their positions in the company. Cowen AND Company LLC grew its holdings in shares of Brookfield Reinsurance by 2.0% during the second quarter. Cowen AND Company LLC now owns 50,885 shares of the company’s stock valued at $2,116,000 after buying an additional 1,000 shares during the last quarter. Swiss National Bank boosted its holdings in 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 purchasing an additional 1,100 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in 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 purchasing an additional 6,410 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Brookfield Reinsurance in the second quarter worth approximately $369,000. Finally, Triasima Portfolio Management inc. boosted its holdings in 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 purchasing an additional 23,488 shares during the last quarter. Hedge funds and other institutional investors own 7.19% of the company’s stock.

Brookfield Reinsurance Company Profile

(Get Free Report)

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.

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