Bank of Montreal Can purchased a new stake in Brookfield Reinsurance Ltd. (NYSE:BNRE – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 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 & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tandem Capital Management Corp ADV bought a new stake in Brookfield Reinsurance during the 4th quarter worth approximately $760,000. K.J. Harrison & Partners Inc bought a new position in shares of Brookfield Reinsurance in the fourth quarter worth $911,704,000. Montrusco Bolton Investments Inc. purchased a new stake in shares of Brookfield Reinsurance in the fourth quarter worth $8,593,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought 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.
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Wall Street Analyst Weigh In
Separately, TheStreet raised 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 capitalization 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. Stockholders of record on Thursday, March 16th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis 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
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Brookfield Asset Management Reinsurance Partners Ltd., through its subsidiaries, provides annuity-based 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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