Brookfield Reinsurance (NYSE:BNRE) Shares Down 1.3% – Here’s What Happened

Brookfield Reinsurance Ltd. (NYSE:BNRE)’s share price fell 1.3% on Thursday . The company traded as low as $58.98 and last traded at $58.98. 7,353 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 6,394 shares. The stock had previously closed at $59.73.

Brookfield Reinsurance Price Performance

The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 203.39 and a beta of 1.53. The business’s fifty day moving average price is $58.14 and its 200-day moving average price is $52.72.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Brookfield Reinsurance stock. Mackenzie Financial Corp increased its holdings in shares of Brookfield Reinsurance Ltd. (NYSE:BNRE) by 52.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,575 shares of the company’s stock after acquiring an additional 6,410 shares during the quarter. Mackenzie Financial Corp’s holdings in Brookfield Reinsurance were worth $773,000 as of its most recent SEC filing. 7.19% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Reinsurance Company Profile

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.