Brookfield Reinsurance (NYSE:BNRE) Sets New 12-Month High at $50.76

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares hit a new 52-week high on Tuesday . The stock traded as high as $50.76 and last traded at $50.20, with a volume of 5599 shares trading hands. The stock had previously closed at $50.41.

Brookfield Reinsurance Price Performance

The company has a market cap of $7.59 billion, a price-to-earnings ratio of 173.10 and a beta of 1.53. The firm has a 50-day moving average price of $47.13 and a 200 day moving average price of $43.68.

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

Brookfield Reinsurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. Brookfield Reinsurance’s payout ratio is presently 110.34%.

Hedge Funds Weigh In On Brookfield Reinsurance

A number of hedge funds have recently added to or reduced their stakes in BNRE. Bank of Nova Scotia raised its position in shares of Brookfield Reinsurance by 3,898.6% in the 4th quarter. Bank of Nova Scotia now owns 512,825 shares of the company’s stock valued at $20,518,000 after buying an additional 500,000 shares in the last quarter. Triasima Portfolio Management inc. bought a new stake in shares of Brookfield Reinsurance during the 1st quarter worth $1,335,000. Swiss National Bank boosted its stake in Brookfield Reinsurance by 7.6% in the first quarter. Swiss National Bank now owns 15,600 shares of the company’s stock valued at $656,000 after buying an additional 1,100 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Brookfield Reinsurance in the second quarter valued at about $369,000. Finally, Cowen AND Company LLC raised its stake 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 acquiring an additional 1,000 shares in the last quarter. Institutional investors own 7.19% of the company’s stock.

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.