Brookfield Reinsurance (NYSE:BNRE) Shares Down 1.3% – What’s Next?

Brookfield Reinsurance Ltd. (NYSE:BNRE) shares dropped 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 mid-day 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 company has a market capitalization of $8.58 billion, a P/E ratio of 203.39 and a beta of 1.53. The firm’s fifty day moving average is $58.14 and its 200-day moving average is $52.72.

Institutional Trading of Brookfield Reinsurance

A hedge fund recently bought a new stake in Brookfield Reinsurance stock. Bank of New York Mellon Corp bought a new stake in shares of Brookfield Reinsurance Ltd. (NYSE:BNRE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,881 shares of the company’s stock, valued at approximately $369,000. 7.19% of the stock is 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.