The Manufacturers Life Insurance Company Lowers Holdings in Enstar Group Limited (NASDAQ:ESGR)

The Manufacturers Life Insurance Company lessened its stake in shares of Enstar Group Limited (NASDAQ:ESGR - Free Report) by 35.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. purchased a new position in shares of Enstar Group in the third quarter worth approximately $24,465,000. Dimensional Fund Advisors LP boosted its stake in shares of Enstar Group by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 793,067 shares of the insurance provider's stock worth $242,442,000 after acquiring an additional 30,831 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Enstar Group during the 2nd quarter worth $7,394,000. Sequoia Financial Advisors LLC boosted its stake in shares of Enstar Group by 640.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 26,313 shares of the insurance provider's stock worth $8,462,000 after acquiring an additional 22,761 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Enstar Group by 14.0% during the second quarter. American Century Companies Inc. now owns 166,358 shares of the insurance provider's stock valued at $50,856,000 after purchasing an additional 20,416 shares in the last quarter. Hedge funds and other institutional investors own 81.01% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Enstar Group in a research report on Friday, December 6th. They set a "hold" rating on the stock.

Enstar Group Price Performance

NASDAQ:ESGR traded up $0.13 during trading hours on Wednesday, hitting $326.71. 55,676 shares of the stock traded hands, compared to its average volume of 74,765. 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 1 year low of $262.54 and a 1 year high of $348.48. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 4.94 and a beta of 0.65. The stock has a 50 day moving average price of $323.84 and a 200 day moving average price of $320.85.

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

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.