Brookfield Reinsurance (NYSE:BNRE) Reaches New 12-Month High – Still a Buy?

Shares of Brookfield Reinsurance Ltd. (NYSE:BNRE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $56.70 and last traded at $55.41, with a volume of 9406 shares traded. The stock had previously closed at $56.43.

Brookfield Reinsurance Trading Down 1.3 %

The company has a market cap of $7.81 billion, a price-to-earnings ratio of 187.48 and a beta of 1.53. The stock has a 50-day simple moving average of $50.24 and a 200 day simple moving average of $45.58.

Brookfield Reinsurance (NYSE:BNRE) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $2.90 billion for 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 declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. Brookfield Reinsurance’s dividend payout ratio is presently 110.34%.

Institutional Investors Weigh In On Brookfield Reinsurance

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in Brookfield Reinsurance during the second quarter worth about $369,000. Swiss National Bank raised its holdings 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 acquiring an additional 1,100 shares in the last quarter. Mackenzie Financial Corp grew its stake 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 worth $773,000 after purchasing an additional 6,410 shares in the last quarter. 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 buying an additional 1,000 shares during the last quarter. Finally, Triasima Portfolio Management inc. raised its stake 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 buying an additional 23,488 shares in the last quarter. Hedge funds and other 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.