Brookfield Reinsurance (NYSE:BNRE) Sets New 52-Week High – Here’s What Happened

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares hit a new 52-week high during trading on Monday . The company traded as high as $56.74 and last traded at $56.13, with a volume of 13191 shares changing hands. The stock had previously closed at $56.87.

Brookfield Reinsurance Stock Down 0.7 %

The stock’s 50-day simple moving average is $53.26 and its 200 day simple moving average is $47.75. The firm has a market cap of $8.21 billion, a P/E ratio of 195.93 and a beta of 1.53.

Brookfield Reinsurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.57%. Brookfield Reinsurance’s dividend payout ratio is currently 110.34%.

Hedge Funds Weigh In On Brookfield Reinsurance

A number of institutional investors and hedge funds have recently modified their holdings of the business. 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 acquiring an additional 23,488 shares in the last quarter. Cowen AND Company LLC grew its position in Brookfield Reinsurance by 2.0% in the 2nd quarter. Cowen AND Company LLC now owns 50,885 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,000 shares during the period. Mackenzie Financial Corp increased its stake in Brookfield Reinsurance by 52.7% during the 2nd quarter. Mackenzie Financial Corp now owns 18,575 shares of the company’s stock valued at $773,000 after purchasing an additional 6,410 shares in the last quarter. Swiss National Bank raised 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 during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Brookfield Reinsurance during the second quarter worth $369,000. 7.19% of the stock is currently owned by institutional investors.

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.