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

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares reached a new 52-week high on Tuesday . The stock traded as high as $58.87 and last traded at $57.84, with a volume of 13585 shares traded. The stock had previously closed at $58.95.

Brookfield Reinsurance Price Performance

The company’s 50-day simple moving average is $52.65 and its two-hundred day simple moving average is $47.33. The firm has a market capitalization of $8.41 billion, a P/E ratio of 199.28 and a beta of 1.53.

Brookfield Reinsurance Announces Dividend

The company 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Thursday, September 12th. Brookfield Reinsurance’s dividend payout ratio (DPR) is 110.34%.

Institutional Trading of Brookfield Reinsurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in Brookfield Reinsurance in the second quarter worth about $369,000. Swiss National Bank increased 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 buying an additional 1,100 shares during the period. Mackenzie Financial Corp boosted its position in 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 in the last quarter. Cowen AND Company LLC boosted its stake 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 acquiring an additional 1,000 shares in the last quarter. Finally, Triasima Portfolio Management inc. grew its stake in shares of Brookfield Reinsurance by 74.0% during 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 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.