Brookfield Wealth Solutions (NYSE:BNT) Hits New 1-Year High - Still a Buy?

Key Points

• Brookfield Wealth Solutions shares reached a new 52-week high of $69.42 during trading, with a volume of 9,384 shares exchanged.
• The company will implement a 3-2 stock split on October 10th, following an announcement made on August 7th.
• Brookfield's quarterly dividend was set at $0.06 per share, with a yield of 0.3%, and the dividend payout ratio stands at 105.88%.

Brookfield Wealth Solutions Ltd. (NYSE:BNT - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $69.42 and last traded at $69.42, with a volume of 9384 shares changing hands. The stock had previously closed at $67.16.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Brookfield Wealth Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th.

Brookfield Wealth Solutions Price Performance

The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 205.04 and a beta of 1.57. The business's 50 day simple moving average is $65.92 and its 200 day simple moving average is $58.94.

Brookfield Wealth Solutions's stock is scheduled to split on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly issued shares will be distributed to shareholders after the market closes on Thursday, October 9th.

Brookfield Wealth Solutions (NYSE:BNT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.09 EPS for the quarter. The company had revenue of $3.04 billion during the quarter. Brookfield Wealth Solutions had a net margin of 0.11% and a return on equity of 0.12%.

Brookfield Wealth Solutions Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, September 12th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Brookfield Wealth Solutions's payout ratio is presently 105.88%.

Institutional Trading of Brookfield Wealth Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in shares of Brookfield Wealth Solutions by 8.8% in the second quarter. Russell Investments Group Ltd. now owns 4,773 shares of the company's stock valued at $294,000 after purchasing an additional 388 shares during the period. TD Asset Management Inc raised its position in Brookfield Wealth Solutions by 1.8% during the first quarter. TD Asset Management Inc now owns 39,504 shares of the company's stock worth $2,064,000 after acquiring an additional 688 shares during the last quarter. JPMorgan Chase & Co. raised its position in Brookfield Wealth Solutions by 1,235.2% during the second quarter. JPMorgan Chase & Co. now owns 1,215 shares of the company's stock worth $75,000 after acquiring an additional 1,124 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Brookfield Wealth Solutions in the first quarter valued at approximately $77,000. Finally, NBC Securities Inc. raised its position in shares of Brookfield Wealth Solutions by 172,600.0% in the first quarter. NBC Securities Inc. now owns 1,727 shares of the company's stock valued at $90,000 after buying an additional 1,726 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.

About Brookfield Wealth Solutions

Brookfield Wealth Solutions is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Through our operating subsidiaries, we offer a broad range of insurance products and services, including annuities, personal and commercial property and casualty insurance and life insurance.The company was incorporated in 2020 and is headquartered in Pembroke, Bermuda.