Brookfield Reinsurance (NYSE:BNRE) Hits New 52-Week High - Still a Buy?

Brookfield Reinsurance Ltd. (NYSE:BNRE) has recently achieved a remarkable milestone, reaching a new 52-week high during midday trading on Monday. The stock peaked at $54.73 before closing at $54.59, with a trading volume of 5,135 shares, up from its previous close of $53.40.

Brookfield Reinsurance Price Performance

The company boasts a market capitalization of $7.94 billion, coupled with a price-to-earnings (P/E) ratio of 184.14 and a beta value of 1.53, indicating its volatility compared to the market. The 50-day simple moving average stands at $50.69, while the 200-day moving average is at $45.87.

Earnings Overview

Brookfield Reinsurance announced its latest earnings on August 8th, revealing earnings per share (EPS) of $0.08 for the quarter. The company showed a net margin of 0.10% and a return on equity of 0.14%, reporting total revenue of $2.90 billion for the period.

Dividend Information

The company has also declared a quarterly dividend, which was paid on September 27th. Shareholders on record as of September 12th received a dividend of $0.08 per share, translating to an annual dividend of $0.32 and a yield of 0.59%. The company’s payout ratio stands at 110.34%, which can indicate its commitment to returning value to shareholders.

Institutional Interest

Several hedge funds and institutional investors have made notable adjustments to their holdings in Brookfield Reinsurance. Mackenzie Financial Corp has increased its stake by 52.7%, now owning 18,575 shares valued at approximately $773,000 after acquiring an additional 6,410 shares. Cowen AND Company LLC raised its stake by 2.0%, now holding 50,885 shares worth $2,116,000, while Triasima Portfolio Management Inc. significantly boosted its position by 74.0%, owning 55,219 shares valued at $2,298,000 after adding 23,488 shares. The Bank of New York Mellon Corp has also established a new stake valued at approximately $369,000. Additionally, Swiss National Bank increased its shareholding by 7.6% in the first quarter, now holding 15,600 shares worth $656,000. Currently, about 7.19% of the stock is owned by institutional investors and hedge funds.

Company Overview

Brookfield Reinsurance Ltd., through its subsidiaries, provides various insurance and reinsurance services both in the United States and internationally. The company operates through three main segments: Direct Insurance, Reinsurance, and Pension Risk Transfer (PRT). The Direct Insurance segment offers a range of products, including Whole, Universal, and Variable Universal Life Insurance, various types of annuities, and several casualty products. It also provides a variety of health and pension products.

Investment Considerations

Investors considering whether to invest in Brookfield Reinsurance should be aware of its current standing. MarketBeat tracks analysts' ratings and reveals that the stock currently holds a "hold" rating, suggesting potential investors may want to look into other alternatives reported by analysts as stronger opportunities.

Investing, Insurance, Dividend, Performance, Earnings