Brookfield Wealth Solutions (NYSE:BNT) Hits New 12-Month High - Here's What Happened

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%.

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

Wall Street Analysts Forecast Growth

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

Brookfield Wealth Solutions Stock Performance

The company has a market cap of $16.56 billion, a PE ratio of 202.59 and a beta of 1.57. The stock's 50 day moving average price is $65.63 and its 200-day moving average price is $58.69.

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

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

Brookfield Wealth Solutions Cuts Dividend

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

Institutional Trading of Brookfield Wealth Solutions

A number of institutional investors have recently made changes to their positions in BNT. Canada Pension Plan Investment Board grew its position in Brookfield Wealth Solutions by 383.0% during the first quarter. Canada Pension Plan Investment Board now owns 96,488 shares of the company's stock valued at $5,043,000 after buying an additional 76,511 shares during the period. TD Asset Management Inc grew its position in Brookfield Wealth Solutions by 183.8% during the second quarter. TD Asset Management Inc now owns 112,106 shares of the company's stock valued at $6,916,000 after buying an additional 72,602 shares during the period. Legal & General Group Plc grew its position in Brookfield Wealth Solutions by 400.6% during the second quarter. Legal & General Group Plc now owns 62,769 shares of the company's stock valued at $3,873,000 after buying an additional 50,230 shares during the period. Montrusco Bolton Investments Inc. grew its position in Brookfield Wealth Solutions by 11.2% during the first quarter. Montrusco Bolton Investments Inc. now owns 168,631 shares of the company's stock valued at $8,811,000 after buying an additional 16,990 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Brookfield Wealth Solutions by 49.3% during the 4th quarter. Mackenzie Financial Corp now owns 50,264 shares of the company's stock worth $2,888,000 after acquiring an additional 16,599 shares during the period. Hedge funds and other institutional investors 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.

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