Brookfield Reinsurance (NYSE:BNRE) Reaches New 52-Week High – Should You Buy?

Brookfield Reinsurance Ltd. (NYSE:BNRE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $53.10 and last traded at $52.35, with a volume of 3100 shares changing hands. The stock had previously closed at $53.10.

Brookfield Reinsurance Stock Up 0.6 %

The company has a market cap of $7.69 billion, a P/E ratio of 181.17 and a beta of 1.53. The business has a fifty day simple moving average of $48.75 and a two-hundred day simple moving average of $44.77.

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

Brookfield Reinsurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.61%. Brookfield Reinsurance’s dividend payout ratio is currently 110.34%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BNRE. Bank of New York Mellon Corp bought a new stake in shares of Brookfield Reinsurance during the 2nd quarter valued at $369,000. 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 valued at $656,000 after acquiring an additional 1,100 shares during the period. Mackenzie Financial Corp lifted its position in shares of 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 acquiring an additional 6,410 shares in the last quarter. Cowen AND Company LLC boosted its stake in shares of Brookfield Reinsurance by 2.0% in 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 during the period. Finally, Triasima Portfolio Management inc. boosted its stake in shares of 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 during the period. 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.