Brookfield Reinsurance (NYSE:BNRE) Trading Up 0.2% – Time to Buy?

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares rose 0.2% during mid-day trading on Wednesday . The stock traded as high as $58.00 and last traded at $57.44. Approximately 7,386 shares changed hands during trading, an increase of 16% from the average daily volume of 6,394 shares. The stock had previously closed at $57.35.

Brookfield Reinsurance Stock Up 0.2 %

The firm has a market cap of $8.36 billion, a P/E ratio of 198.08 and a beta of 1.53. The firm’s 50-day moving average price is $57.54 and its 200 day moving average price is $51.07.

Hedge Funds Weigh In On Brookfield Reinsurance

Several hedge funds and other institutional investors have recently made changes to their positions in BNRE. Cowen AND Company LLC increased its position in Brookfield Reinsurance by 2.0% in the 2nd quarter. Cowen AND Company LLC now owns 50,885 shares of the company’s stock valued at $2,116,000 after acquiring an additional 1,000 shares during the period. Mackenzie Financial Corp raised its position in Brookfield Reinsurance by 52.7% in the second quarter. Mackenzie Financial Corp now owns 18,575 shares of the company’s stock worth $773,000 after acquiring an additional 6,410 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Brookfield Reinsurance in the 2nd quarter worth approximately $369,000. Finally, Triasima Portfolio Management inc. lifted its position in shares of Brookfield Reinsurance by 74.0% during the 2nd quarter. Triasima Portfolio Management inc. now owns 55,219 shares of the company’s stock valued at $2,298,000 after acquiring an additional 23,488 shares during the last quarter. 7.19% of the stock is currently owned by institutional investors and hedge funds.

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.