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

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $61.97 and last traded at $61.68, with a volume of 10246 shares changing hands. The stock had previously closed at $61.39.

Brookfield Reinsurance Price Performance

The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 211.69 and a beta of 1.53. The firm has a 50 day moving average price of $54.76 and a 200-day moving average price of $48.59.

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 paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Thursday, September 12th. Brookfield Reinsurance’s dividend payout ratio (DPR) is presently 110.34%.

Institutional Investors Weigh In On Brookfield Reinsurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BNRE. Triasima Portfolio Management inc. increased 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 purchasing an additional 23,488 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Brookfield Reinsurance in the second quarter valued at about $369,000. Mackenzie Financial Corp increased 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 valued at $773,000 after purchasing an additional 6,410 shares during the last quarter. Finally, Cowen AND Company LLC increased its holdings in Brookfield Reinsurance by 2.0% in the second 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 last quarter. 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.