Cannell & Spears LLC Trims Position in Enstar Group Limited (NASDAQ:ESGR)

Cannell & Spears LLC reduced its holdings in Enstar Group Limited (NASDAQ:ESGR) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,894 shares of the insurance provider’s stock after selling 36 shares during the period. Cannell & Spears LLC’s holdings in Enstar Group were worth $932,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Enstar Group during the 4th quarter worth about $42,516,000. Decagon Asset Management LLP purchased a new stake in shares of Enstar Group in the fourth quarter worth about $32,614,000. Picton Mahoney Asset Management grew its holdings in Enstar Group by 65.2% during the fourth quarter. Picton Mahoney Asset Management now owns 72,134 shares of the insurance provider’s stock worth $23,232,000 after acquiring an additional 28,476 shares during the period. JPMorgan Chase & Co. raised its position in Enstar Group by 73.1% during the fourth quarter. JPMorgan Chase & Co. now owns 65,123 shares of the insurance provider’s stock valued at $20,973,000 after acquiring an additional 27,491 shares in the last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in Enstar Group by 22.9% in the fourth quarter. Alpine Associates Management Inc. now owns 93,476 shares of the insurance provider’s stock valued at $30,104,000 after acquiring an additional 17,400 shares during the period. Institutional investors and hedge funds own 81.01% of the company’s stock.

Enstar Group Stock Up 0.0 %

ESGR stock opened at $332.38 on Tuesday. The firm’s fifty day moving average is $330.48 and its 200 day moving average is $326.04. The firm has a market cap of $4.95 billion, a PE ratio of 5.03 and a beta of 0.61. Enstar Group Limited has a one year low of $275.02 and a one year high of $348.48. 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 (NASDAQ:ESGR) last posted its earnings results on Thursday, February 27th. The insurance provider reported $17.01 EPS for the quarter. The firm had revenue of $240.00 million for the quarter. Enstar Group had a return on equity of 17.33% and a net margin of 73.26%.

Insider Activity

In other 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 transaction of $160,770.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Enstar Group in a research note on Friday. They set a “hold” rating on the stock.

Enstar Group 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.