Bank of Montreal Can bought a new stake in Brookfield Reinsurance Ltd. (NYSE:BNRE – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 85,578 shares of the company’s stock, valued at approximately $2,742,000. Bank of Montreal Can owned approximately 0.89% of Brookfield Reinsurance as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tandem Capital Management Corp ADV bought a new stake in Brookfield Reinsurance in the 4th quarter worth approximately $760,000. KJ Harrison & Partners Inc bought a new position in shares of Brookfield Reinsurance in the 4th quarter worth $911,704,000. Montrusco Bolton Investments Inc. purchased a new stake in shares of Brookfield Reinsurance during the fourth quarter valued at $8,593,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Brookfield Reinsurance during the fourth quarter valued at $52,000. 39.71% of the stock is currently owned by institutional investors.
The Wall Street analyst weighs in
Separately, TheStreet upgraded Brookfield Reinsurance from a “d+” rating to a “c-” rating in a report on Tuesday, February 7th.
Brookfield Reinsurance Trading up 0.5%
Shares of Brookfield Reinsurance stock opened at $33.36 on Monday. Brookfield Reinsurance Ltd. has a 1-year low of $28.30 and a 1-year high of $54.49. The company has a market cap of $358.95 million, a price-to-earnings ratio of 5.84 and a beta of 1.48. The company’s 50-day moving average is $32.37.
Brookfield Reinsurance (NYSE:BNRE – Get Rating ) last posted its quarterly earnings data on Thursday, February 9th. The company reported $0.14 earnings per share (EPS) for the quarter. Brookfield Reinsurance had a net margin of 2.47% and a return on equity of 10.83%. The company had revenue of $1.63 billion during the quarter.
Brookfield Reinsurance announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Thursday, March 16th were given a $0.07 dividend. This represents an annualized dividend of $0.28 and a dividend yield of 0.84%. The ex-dividend date was Wednesday, March 15th. Brookfield Reinsurance’s payout ratio is currently 4.90%.
About Brookfield Reinsurance
Brookfield Asset Management Reinsurance Partners Ltd., through its subsidiaries, provides annuity reinsurance products to insurance and reinsurance companies. The company operates in two segments, Reinsurance and Pension Risk Transfer. It also acts as a direct issuer of pension risk transfer products for pension plan sponsors.
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