Brookfield Reinsurance Ltd. (NYSE:BNRE) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in Brookfield Reinsurance Ltd. (NYSE:BNRE) by 66.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,575 shares of the company’s stock after selling 23,165 shares during the period. Mackenzie Financial Corp owned approximately 0.11% of Brookfield Reinsurance worth $463,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Montrusco Bolton Investments Inc. grew its stake in shares of 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 buying an additional 108,404 shares in the last quarter. CI Investments Inc. grew its position 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 acquiring an additional 19,200 shares in the last quarter. Whittier Trust Co. acquired a new stake in Brookfield Reinsurance in the third quarter valued at approximately $138,000. Barclays PLC purchased a new stake in shares of Brookfield Reinsurance during the second quarter valued at approximately $56,000. Finally, Toronto Dominion Bank lifted its position in shares of Brookfield Reinsurance by 335.9% during the third quarter. Toronto Dominion Bank now owns 1,578 shares of the company’s stock worth $50,000 after purchasing an additional 1,216 shares in the last quarter. 7.19% of the stock is owned by hedge funds and other institutional investors.

Brookfield Reinsurance Stock Up 1.6 %

Shares of NYSE BNRE opened at $40.92 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.33 and a current ratio of 0.33. Brookfield Reinsurance Ltd. has a 1 year low of $29.00 and a 1 year high of $43.07. The stock’s 50-day simple moving average is $40.76 and its 200-day simple moving average is $37.92. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 146.14 and a beta of 1.57.

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

Brookfield Reinsurance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Brookfield Reinsurance’s previous quarterly dividend of $0.07. Brookfield Reinsurance’s payout ratio is 114.29%.

Wall Street Analyst Weigh In

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

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.