First Manhattan CO. LLC. Acquires New Stake in Enstar Group Limited (NASDAQ:ESGR)

First Manhattan CO. LLC. acquired a new stake in Enstar Group Limited (NASDAQ:ESGR) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,295 shares of the insurance provider’s stock, valued at approximately $739,000.

Several other institutional investors also recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in shares of Enstar Group by 158.2% during the 4th quarter. Deutsche Bank AG now owns 18,696 shares of the insurance provider’s stock worth $6,021,000 after purchasing an additional 11,456 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Enstar Group during the 4th quarter worth $1,344,000. Cetera Investment Advisers boosted its position in shares of Enstar Group by 16.3% during the 4th quarter. Cetera Investment Advisers now owns 1,432 shares of the insurance provider’s stock worth $461,000 after purchasing an additional 201 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Enstar Group during the 4th quarter worth $393,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of Enstar Group by 322.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 54,607 shares of the insurance provider’s stock worth $17,586,000 after buying an additional 41,675 shares during the last quarter. 81.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Enstar Group

In related news, Director Hiteshkumar R. Patel sold 484 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $332.17, for a total value of $160,770.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hans-Peter Gerhardt sold 407 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $334.00, for a total transaction of $135,938.00. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Enstar Group in a research note on Saturday, April 5th. They set a “hold” rating for the company.

Enstar Group Trading Up 0.2%

NASDAQ:ESGR opened at $334.03 on Monday. The company has a market capitalization of $4.97 billion, a PE ratio of 5.06 and a beta of 0.71. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.33. Enstar Group Limited has a 52-week low of $291.90 and a 52-week high of $348.48. The stock has a fifty day simple moving average of $332.85 and a 200-day simple moving average of $328.53.

Enstar Group (NASDAQ:ESGR) last released its quarterly earnings results on Thursday, February 27th. The insurance provider reported $17.01 earnings per share (EPS) for the quarter. The business had revenue of $240.00 million during the quarter. Enstar Group had a return on equity of 17.33% and a net margin of 73.26%.

Enstar Group Company Profile

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.