Brookfield Reinsurance Ltd. (NYSE:BNRE) Sees Large Growth in Short Interest

Brookfield Reinsurance Ltd. (NYSE:BNRE) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 37,200 shares, an increase of 186.2% from the May 31st total of 13,000 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 8,100 shares, the days-to-cover ratio is presently 4.6 days.

Brookfield Reinsurance Stock Down 0.2 %

BNRE stock traded down $0.10 during trading on Friday, hitting $41.59. 2,678 shares of the stock traded hands, compared to its average volume of 4,796. Brookfield Reinsurance has a 1 year low of $29.00 and a 1 year high of $45.11. The firm’s 50 day moving average is $42.43 and its two-hundred day moving average is $40.92. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 143.42 and a beta of 1.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.31 and a quick ratio of 0.31.

Brookfield Reinsurance (NYSE:BNRE) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.08 EPS for the quarter. The company had revenue of $2.59 billion for the quarter. Brookfield Reinsurance had a net margin of 0.08% and a return on equity of 0.15%.

Brookfield Reinsurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield Reinsurance’s payout ratio is presently 110.35%.

Institutional Trading of Brookfield Reinsurance

A number of institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in shares of Brookfield Reinsurance by 335.9% in the third quarter. Toronto Dominion Bank now owns 1,578 shares of the company’s stock worth $50,000 after buying an additional 1,216 shares during the last quarter. Swiss National Bank boosted its holdings in shares of 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 buying an additional 1,100 shares during the last quarter. Triasima Portfolio Management inc. purchased a new position in shares of Brookfield Reinsurance in the first quarter worth approximately $1,335,000. Cowen AND Company LLC boosted its holdings in shares of Brookfield Reinsurance by 29.1% in the fourth quarter. Cowen AND Company LLC now owns 49,885 shares of the company’s stock worth $2,014,000 after buying an additional 11,252 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of Brookfield Reinsurance by 3,898.6% in the fourth quarter. Bank of Nova Scotia now owns 512,825 shares of the company’s stock worth $20,518,000 after buying an additional 500,000 shares during the last quarter. Hedge funds and other institutional investors own 7.19% of the company’s stock.

About Brookfield Reinsurance

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.