Brookfield Reinsurance (NYSE:BNRE) Hits New 1-Year High – Still a Buy?

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $60.41 and last traded at $60.00, with a volume of 3992 shares. The stock had previously closed at $59.09.

Brookfield Reinsurance Stock Performance

The firm has a market cap of $8.54 billion, a PE ratio of 203.90 and a beta of 1.53. The company’s 50-day simple moving average is $56.06 and its two-hundred day simple moving average is $49.51.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cowen AND Company LLC increased its stake in shares of Brookfield Reinsurance by 2.0% in the 2nd 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 in the last quarter. Mackenzie Financial Corp lifted its holdings 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 valued at $773,000 after purchasing an additional 6,410 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Brookfield Reinsurance in the 2nd quarter worth approximately $369,000. Finally, Triasima Portfolio Management inc. increased its position in Brookfield Reinsurance by 74.0% during the 2nd quarter. Triasima Portfolio Management inc. now owns 55,219 shares of the company’s stock valued at $2,298,000 after buying an additional 23,488 shares in the last quarter. 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.