Brookfield Reinsurance (NYSE:BNRE) Sees Strong Trading Volume

Shares of Brookfield Reinsurance Ltd. (NYSE:BNRE) saw unusually-strong trading volume on Monday . Approximately 9,391 shares changed hands during mid-day trading, an increase of 60% from the previous session’s volume of 5,873 shares.The stock last traded at $39.42 and had previously closed at $38.86.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Brookfield Reinsurance from a “c+” rating to a “b-” rating in a research report on Friday, February 2nd.

Brookfield Reinsurance Price Performance

The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 138.79 and a beta of 1.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.33 and a current ratio of 0.33. The business has a 50 day simple moving average of $40.72 and a 200-day simple moving average of $37.68.

Brookfield Reinsurance (NYSE:BNRE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $2.33 billion during the quarter. Brookfield Reinsurance had a return on equity of 0.14% and a net margin of 0.07%.

Brookfield Reinsurance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. This is an increase from Brookfield Reinsurance’s previous quarterly dividend of $0.07. Brookfield Reinsurance’s payout ratio is 114.29%.

Hedge Funds Weigh In On Brookfield Reinsurance

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia boosted its stake 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 worth $20,518,000 after buying an additional 500,000 shares during the last quarter. Cowen AND Company LLC boosted its stake in shares of Brookfield Reinsurance by 29.1% in the 4th quarter. Cowen AND Company LLC now owns 49,885 shares of the company’s stock worth $2,014,000 after buying an additional 11,252 shares during the last quarter. Toronto Dominion Bank lifted its stake in Brookfield Reinsurance by 335.9% in the third quarter. Toronto Dominion Bank now owns 1,578 shares of the company’s stock valued at $50,000 after purchasing an additional 1,216 shares during the last quarter. CI Investments Inc. lifted its stake in Brookfield Reinsurance by 12.0% in the third quarter. CI Investments Inc. now owns 178,792 shares of the company’s stock valued at $5,627,000 after purchasing an additional 19,200 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its stake in Brookfield Reinsurance by 85.1% in the third quarter. Montrusco Bolton Investments Inc. now owns 235,797 shares of the company’s stock valued at $7,404,000 after purchasing an additional 108,404 shares during the last quarter. Institutional investors and hedge funds 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.