Bank of America Corp DE Increases Stock Holdings in Enstar Group Limited (NASDAQ:ESGR)

Bank of America Corp DE grew its stake in Enstar Group Limited (NASDAQ:ESGR - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,667 shares of the insurance provider's stock after buying an additional 25,846 shares during the period. Bank of America Corp DE owned approximately 0.62% of Enstar Group worth $30,165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ESGR. Key Financial Inc bought a new position in shares of Enstar Group during the fourth quarter valued at about $52,000. NewEdge Advisors LLC increased its stake in shares of Enstar Group by 17.1% during the fourth quarter. NewEdge Advisors LLC now owns 212 shares of the insurance provider's stock valued at $68,000 after purchasing an additional 31 shares in the last quarter. Vestcor Inc purchased a new stake in shares of Enstar Group in the fourth quarter worth $96,000. Sterling Capital Management LLC increased its stake in Enstar Group by 825.0% during the 4th quarter. Sterling Capital Management LLC now owns 407 shares of the insurance provider's stock valued at $131,000 after purchasing an additional 363 shares in the last quarter. Finally, KBC Group NV lifted its position in Enstar Group by 39.7% in the 4th quarter. KBC Group NV now owns 482 shares of the insurance provider's stock valued at $155,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 81.01% of the company's stock.

Insider Activity at Enstar Group

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

Enstar Group Stock Performance

Shares of NASDAQ:ESGR traded down $0.38 during trading on Thursday, hitting $334.81. The company's stock had a trading volume of 1,556 shares, compared to its average volume of 100,278. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.33 and a quick ratio of 0.33. Enstar Group Limited has a 12 month low of $291.90 and a 12 month high of $348.48. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 5.07 and a beta of 0.71. The company has a 50-day moving average of $333.34 and a 200-day moving average of $329.05.

Enstar Group (NASDAQ:ESGR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The insurance provider reported $17.01 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 $240.00 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Enstar Group in a research note on Saturday, April 5th. They issued a "hold" rating for the company.

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.