The Manufacturers Life Insurance Company Sells 2,538 Shares of Enstar Group Limited (NASDAQ:ESGR)

The Manufacturers Life Insurance Company cut its stake in Enstar Group Limited (NASDAQ:ESGR) by 35.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,646 shares of the insurance provider’s stock after selling 2,538 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Enstar Group were worth $1,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farmers & Merchants Investments Inc. purchased a new stake in Enstar Group in the second quarter worth about $31,000. GAMMA Investing LLC raised its position in shares of Enstar Group by 248.5% in the 3rd quarter. GAMMA Investing LLC now owns 115 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 82 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Enstar Group by 85.5% in the 3rd quarter. Blue Trust Inc. now owns 141 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 65 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Enstar Group during the third quarter valued at approximately $48,000. Finally, Longfellow Investment Management Co. LLC purchased a new stake in Enstar Group in the third quarter worth $50,000. 81.01% of the stock is owned by hedge funds and other institutional investors.

Enstar Group Stock Performance

Shares of ESGR stock opened at $326.58 on Wednesday. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 4.94 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.33 and a current ratio of 0.33. Enstar Group Limited has a one year low of $262.54 and a one year high of $348.48. The company’s 50-day moving average is $323.84 and its 200 day moving average is $320.85.

Enstar Group (NASDAQ:ESGR) last announced its quarterly earnings results on Tuesday, November 12th. The insurance provider reported $8.51 earnings per share (EPS) for the quarter. Enstar Group had a return on equity of 17.33% and a net margin of 73.26%. The firm had revenue of $177.00 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Enstar Group in a research report on Friday, December 6th. They set a “hold” rating for the company.

About Enstar Group

Enstar Group Limited acquires and manages insurance and reinsurance companies and portfolios in run-off in Bermuda and internationally. It engages in the run-off property and casualty; other reinsurance; life and catastrophe; and legacy underwriting businesses; as well as investment activities. The company also provides consulting services, including claims inspection, claims validation, reinsurance asset collection, syndicate management, and IT consulting services to the insurance and reinsurance industry.