Brookfield Reinsurance (NYSE:BNRE) Sets New 52-Week High – Time to Buy?

Brookfield Reinsurance Ltd. (NYSE:BNRE)’s share price hit a new 52-week high during mid-day trading 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 Price Performance

The business’s 50 day moving average price is $49.54 and its 200-day moving average price is $45.19. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 188.97 and a beta of 1.53.

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

Brookfield Reinsurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. Brookfield Reinsurance’s dividend payout ratio (DPR) is 110.34%.

Institutional Trading of Brookfield Reinsurance

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in Brookfield Reinsurance during the second quarter worth about $369,000. Swiss National Bank boosted its holdings in Brookfield Reinsurance by 7.6% during 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 in the last quarter. Mackenzie Financial Corp boosted its holdings 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 in the last quarter. Cowen AND Company LLC boosted its holdings in Brookfield Reinsurance by 2.0% during the second quarter. Cowen AND Company LLC now owns 50,885 shares of the company’s stock worth $2,116,000 after buying an additional 1,000 shares in the last quarter. Finally, Triasima Portfolio Management inc. boosted its holdings in Brookfield Reinsurance by 74.0% during the second quarter. Triasima Portfolio Management inc. now owns 55,219 shares of the company’s stock worth $2,298,000 after buying an additional 23,488 shares in 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.