Brookfield Reinsurance (NYSE:BNRE) Reaches New 52-Week High – Should You Buy?

Brookfield Reinsurance Ltd. (NYSE:BNRE)’s share price reached 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 trading hands. The stock had previously closed at $59.75.

Brookfield Reinsurance Stock Up 0.9 %

The stock has a 50 day moving average price of $54.18 and a 200 day moving average price of $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 firm 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. The ex-dividend date was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. Brookfield Reinsurance’s dividend payout ratio (DPR) is presently 110.34%.

Institutional Trading of Brookfield Reinsurance

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in Brookfield Reinsurance during the 2nd quarter worth about $369,000. Mackenzie Financial Corp raised its position in shares of 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 acquiring an additional 6,410 shares during the last quarter. Cowen AND Company LLC lifted its stake 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 acquiring an additional 1,000 shares during the period. 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 valued at $2,298,000 after acquiring an additional 23,488 shares during the last quarter. 7.19% of the stock is currently owned by institutional investors and hedge funds.

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.