Brookfield Reinsurance (NYSE:BNRE) Stock Price Down 1.3% – Here’s Why

Brookfield Reinsurance Ltd. (NYSE:BNRE)’s stock price was down 1.3% on Thursday . The company traded as low as $58.98 and last traded at $58.98. Approximately 7,353 shares were traded during trading, an increase of 15% from the average daily volume of 6,394 shares. The stock had previously closed at $59.73.

Brookfield Reinsurance Stock Performance

The firm has a market cap of $8.88 billion, a PE ratio of 210.52 and a beta of 1.53. The stock’s fifty day moving average price is $58.18 and its 200-day moving average price is $52.84.

Hedge Funds Weigh In On Brookfield Reinsurance

An institutional investor recently raised its position in Brookfield Reinsurance stock. Mackenzie Financial Corp increased its stake in Brookfield Reinsurance Ltd. (NYSE:BNRE) by 52.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,575 shares of the company’s stock after acquiring an additional 6,410 shares during the period. Mackenzie Financial Corp’s holdings in Brookfield Reinsurance were worth $773,000 as of its most recent SEC filing. Institutional investors and hedge funds own 7.19% of the company’s stock.

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.