Enstar Group Ltd Stock Research

Market Summary

USD244.52+9.14

Delayedas of 01 Jun 2023, 10:24 am

3.88%

ESGR Alerts

Big jump in Earnings (Y/Y)

ESGR Stock Price

ESGR RSI Chart

ESGR Valuation

Market Cap

3.8B

Price/Earnings (Trailing)

-21.05

Price/Sales (Trailing)

2.31

EV/EBITDA

185.65

Price/Free Cashflow

14.66

ESGR Price/Sales (Trailing)

ESGR Profitability

Return on Equity

-19.93%

Return on Assets

-4.32%

Free Cashflow Yield

6.82%

ESGR Fundamentals

ESGR Revenue

Revenue (TTM)

1.6B

Revenue Y/Y

19.48%

Revenue Q/Q

4.25%

ESGR Earnings

Earnings (TTM)

-179.0M

Earnings Y/Y

267.83%

Earnings Q/Q

83.47%

Price Action

52 Week Range

169.04271.39

(Low)(High)

Last 7 days

-5.5%

Last 30 days

-2.3%

Last 90 days

-3.1%

Trailing 12 Months

1.5%

ESGR Financial Health

Debt/Equity

0.38

Debt/Cashflow

0.15

ESGR Investor Care

Buy Backs (1Y)

11.55%

Diluted EPS (TTM)

-12.54

Peers (Alternatives to Enstar Group)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
PGR	80.9B	52.1B	-5.87%	7.15%	112.13	1.63	6.08%	-60.84%
AIG	39.6B	51.6B	-0.49%	-7.80%	3.86	0.7	-3.37%	-38.13%
TRV	39.1B	37.8B	-6.89%	-3.45%	13.97	1.03	6.99%	-29.09%
ALL	28.5B	52.9B	-6.40%	-18.54%	-11.92	0.54	4.73%	-167.90%
RE	23.8B	12.4B	-10.60%	21.71%	39.87	1.91	3.58%	-56.71%
HIG	23.3B	22.9B	-3.87%	-5.50%	11.93	1.05	1.76%	-25.56%
Y	11.4B	-	0.57%	29.95%	32.11	0.97	-	-
AFG	9.6B	7.2B	-8.79%	-15.88%	11.66	1.33	8.46%	-56.06%
MID-CAP
RNR	8.3B	6.5B	-12.57%	22.70%	-80.56	1.27	18.12%	27.70%
ESGR	3.8B	1.6B	-2.33%	1.49%	-21.05	2.31	-	-308.14%
SMALL-CAP
HMN	1.4B	1.4B	-4.87%	-25.06%	-529.92	1	2.59%	-108.90%
PLMR	1.4B	338.2M	8.15%	-12.05%	24.81	4.03	22.24%	25.58%
PRA	990.7M	1.1B	-33.28%	-45.29%	-2.5K	0.9	-7.68%	-102.27%
JRVR	720.0M	847.3M	-1.59%	-25.09%	23.7	0.85	7.01%	151.37%

Financials for Enstar Group

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q1	2021Q4	2021Q3
Revenue	20.8%	1,632	1,351	1,070	789	1,656
S&GA Expenses	1.2%	335	331	369	-	-
EBITDA	-629.0%	-831	157	658	-	-
EBITDA Margin	-76.1%	0.20*	0.83*	0.80*	-	-
Earnings Before Taxes	88.9%	-98.00	-883	128	-	-
EBT Margin	-98.8%	0.01*	0.65*	0.72*	-	-
Interest Expenses	-2.2%	87.00	89.00	78.00	-	-
Net Income	79.4%	-179	-870	86.00	-	-
Net Income Margin	-98.2%	0.01*	0.60*	0.74*	-	-
Free Cahsflow	-88.0%	283	2,350	3,801	-	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-8.2%	20,345	22,154	21,552	23,269	23,240
Cash Equivalents	39.1%	1,143	822	923	785	763
Liabilities	-11.0%	15,291	17,189	17,228	18,209	17,292
Long Term Debt	0.1%	1,830	1,829	1,905	1,905	1,904
Shareholder's Equity	3.9%	4,884	4,701	4,060	4,693	5,534
Retained Earnings	9.6%	4,830	4,406	3,866	4,310	4,803
Additional Paid-In Capital	-42.6%	440	766	757	769	883
Shares Outstanding	-9.0%	16.00	18.00	18.00	18.00	18.00
Minority Interest	-92.7%	7.00	96.00	98.00	193	233

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-9.2%	257	283	1,329	2,350	3,801
Share Based Compensation	-	28.00	-	-	-	-
Cashflow From Investing	42.1%	-919	-1,586	-1,722	-1,667	-2,573
Cashflow From Financing	-26.1%	-116	-92.00	-664	-552	-
Buy Backs	-24.2%	163	215	287	101	-

Risks for ESGR

What is the probability of a big loss on ESGR?

60.4%

Probability that Enstar Group stock will be more than 20% underwater in next one year

34.2%

Probability that Enstar Group stock will be more than 30% underwater in next one year.

24.6%

Probability that Enstar Group stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ESGR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Enstar Group was unfortunately bought at previous high price.

Drawdowns

Returns for ESGR

Cumulative Returns on ESGR

6.4%

10-Year Cumulative Returns

6.0%

7-Year Cumulative Returns

2.9%

5-Year Cumulative Returns

18.2%

3-Year Cumulative Returns

What are the long-term rolling returns for ESGR?

FIve years rolling returns for Enstar Group.

Annualized Returns

Which funds bought or sold ESGR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	reduced	-46.72	-267,244	306,890	-%
2023-05-25	Brandywine Global Investment Management, LLC	added	99.65	10,408,600	20,786,000	0.08%
2023-05-22	AMERIPRISE FINANCIAL INC	added	331	4,340,160	5,643,160	-%
2023-05-22	PUTNAM INVESTMENTS LLC	reduced	-3.95	-56,387	1,495,280	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-9.32	-1,053,000	10,612,000	0.01%
2023-05-18	JPMORGAN CHASE & CO	added	17.03	575,543	3,879,540	-%
2023-05-17	Advisory Services Network, LLC	reduced	-45.71	-7,365	8,704	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-36,000	-	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	new	-	2,032,800	2,032,800	-%
2023-05-16	RBF Capital, LLC	reduced	-9.8	-181,172	1,705,830	0.12%

Latest Funds Activity

Are funds buying ESGR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ESGR

No. of Funds

ESGR Alerts

Big jump in Earnings (Y/Y)

Enstar Group News

Schedule 13G FIlings of Enstar Group

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Mar 24, 2023	canada pension plan investment board	9.4%	1,501,211	SC 13D/A
Feb 09, 2023	vanguard group inc	6.91%	1,104,495	SC 13G/A
Feb 07, 2023	blackrock inc.	5.2%	829,092	SC 13G
Feb 06, 2023	wellington management group llp	6.26%	1,001,215	SC 13G/A
Jan 09, 2023	canada pension plan investment board	9.4%	1,501,211	SC 13D/A
May 13, 2022	stone point capital llc	9.4%	1,546,196	SC 13D/A
Feb 04, 2022	blackrock inc.	5.2%	880,637	SC 13G
Feb 04, 2022	wellington management group llp	6.19%	1,038,942	SC 13G/A
Jul 19, 2021	hillhouse investment management, ltd.	0%	0	SC 13D/A
Jul 19, 2021	hhlr advisors, ltd.	0%	0	SC 13D/A

ESGR Fair Value

Show Fair-Value

Recent SEC filings of Enstar Group

View All Filings

Date Filed	Form Type	Document
May 15, 2023	13F-HR	Fund Holdings Report
May 04, 2023	10-Q	Quarterly Report
May 04, 2023	8-K	Current Report
Apr 21, 2023	ARS	ARS
Apr 21, 2023	DEF 14A	DEF 14A
Apr 21, 2023	DEFA14A	DEFA14A
Apr 05, 2023	4	Insider Trading
Apr 05, 2023	4	Insider Trading
Apr 05, 2023	4	Insider Trading
Apr 05, 2023	4	Insider Trading

Latest Insider Trading transactions for ESGR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-03	Beesley Sharon Anne	acquired	-	-	430	-
2023-04-03	Becker Bernard F.	acquired	-	-	430	-
2023-04-03	O'Shea Paul James	acquired	-	-	466	-
2023-04-03	Gerhardt Hans-Peter	acquired	29,960	53.5415	559	-
2023-04-03	Cross Susan Lee	acquired	-	-	430	-
2023-03-30	Al Obaidat Nazar	sold (taxes)	-18,495	231	-80.00	chief investment officer
2023-03-30	Ni David Kang-Wen	sold (taxes)	-13,871	231	-60.00	chief strategy officer
2023-03-30	Plumb Laurence	sold (taxes)	-6,935	231	-30.00	chief of business operations
2023-03-30	Brockman Paul Michael James	sold (taxes)	-11,790	231	-51.00	coo & cco
2023-03-30	Thaper Seema	sold (taxes)	-11,559	231	-50.00	chief risk officer

About Enstar Group

Dominic Francis Michael Silvester

www.enstargroup.com

830

Enstar Group Limited acquires and manages insurance and reinsurance companies, and portfolios of insurance and reinsurance business in run-off. It engages in the run-off property and casualty, and other non-life lines insurance businesses. 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. It operates in Bermuda, the United States, the United Kingdom, Australia, and other Continental European countries. The company was formerly known as Castlewood Holdings Limited and changed its name to Enstar Group Limited in January 2007. The company was founded in 1993 and is headquartered in Hamilton, Bermuda.

ESGR Income Statement

2023-03-31

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
INCOME
Net premiums earned	$ 8	$ 34
Net investment income	156	80
Net realized losses	(36)	(37)
Net unrealized gains (losses)	224	(381)
Other income	280	14
Total income	632	(290)
Net incurred losses and loss adjustment expenses
Current period	10	13
Prior periods	(10)	(176)
Total net incurred losses and loss adjustment expenses	0	(163)
Policyholder benefit expenses	0	12
Amortization of net deferred charge assets	17	18
Acquisition costs	2	8
General and administrative expenses	89	85
Interest expense	23	25
Net foreign exchange (gains) losses	(6)	3
Total expenses	125	(12)
EARNINGS (LOSS) BEFORE INCOME TAXES	507	(278)
Income tax benefit	1	0
Earnings from equity method investments	11	31
NET EARNINGS (LOSS)	519	(247)
Net earnings attributable to noncontrolling interests	(86)	(11)
NET EARNINGS (LOSS) ATTRIBUTABLE TO ENSTAR	433	(258)
Dividends on preferred shares	(9)	(9)
NET EARNINGS (LOSS) ATTRIBUTABLE TO ENSTAR ORDINARY SHAREHOLDERS	$ 424	$ (267)
Earnings (loss) per ordinary share attributable to Enstar:
Basic (in dollars per share)	$ 24.97	$ (15.19)
Diluted (in dollars per share)	$ 24.79	$ (15.19)
Weighted average ordinary shares outstanding:
Basic (in shares)	16,980,240	17,578,019
Diluted (in shares)	17,100,954	17,785,121

ESGR Balance Sheet

2023-03-31

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Investments, available-for-sale, at fair value	$ 5,208	$ 5,261
Funds held - directly managed, at fair value	1,103	2,040
Equities, at fair value (cost: 2023 — $1,092; 2022 — $1,357)	1,078	1,250
Other investments, at fair value (includes consolidated variable interest entity: 2023 - $14; 2022 - $3)	3,417	3,296
Equity method investments	410	397
Total investments	13,372	14,628
Cash and cash equivalents	828	822
Restricted cash and cash equivalents	315	508
Reinsurance balances recoverable on paid and unpaid losses (net of allowance: 2023 — $135; 2022 — $131)	883	856
Reinsurance balances recoverable on paid and unpaid losses, at fair value (Note 9)	265	275
Insurance balances recoverable (net of allowance: 2023 and 2022 — $5) (Note 8)	176	177
Funds held by reinsured companies	3,258	3,582
Net deferred charge assets (Note 5)	641	658
Other assets	607	648
TOTAL ASSETS	20,345	22,154
LIABILITIES
Losses and loss adjustment expenses (Note 6)	10,936	11,721
Losses and loss adjustment expenses, at fair value (Note 6 and Note 9)	1,250	1,286
Life liabilities, carrying value	0	821
Defendant asbestos and environmental liabilities (Note 8)	596	607
Insurance and reinsurance balances payable	74	100
Debt obligations	1,830	1,829
Other liabilities	605	462
TOTAL LIABILITIES	15,291	16,826
COMMITMENTS AND CONTINGENCIES (Note 15)
REDEEMABLE NONCONTROLLING INTERESTS (Note 11)	170	168
SHAREHOLDERS’ EQUITY (Note 12)
Joint Share Ownership Plan (voting ordinary shares, held in trust 2023 and 2022: 565,630)	(1)	(1)
Additional paid-in capital	440	766
Accumulated other comprehensive loss	(496)	(302)
Retained earnings	4,830	4,406
Total Enstar Shareholders’ Equity	4,877	4,974
Noncontrolling interests (Note 11)	7	186
TOTAL SHAREHOLDERS’ EQUITY	4,884	5,160
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND SHAREHOLDERS’ EQUITY	20,345	22,154
Voting Ordinary shares (issued and outstanding 2023: 16,010,758; 2022: 15,990,338)
SHAREHOLDERS’ EQUITY (Note 12)
Ordinary shares	16	16
Non-voting convertible ordinary Series C Shares (issued and outstanding 2023: 0; 2022: 1,192,941)
SHAREHOLDERS’ EQUITY (Note 12)
Ordinary shares	0	1
Non-voting convertible ordinary Series E Shares (issued and outstanding 2023: 0; 2022: 404,771)
SHAREHOLDERS’ EQUITY (Note 12)
Ordinary shares	0	0
Series C Preferred Shares (issued and held in treasury 2023 and 2022: 388,571)
SHAREHOLDERS’ EQUITY (Note 12)
Preferred Shares	0	0
Treasury shares, at cost (Series C Preferred shares 2023 and 2022: 388,571)	(422)	(422)
Series D Preferred Shares (issued and outstanding 2023 and 2022: 16,000; liquidation preference $400)
SHAREHOLDERS’ EQUITY (Note 12)
Preferred Shares	400	400
Series E Preferred Shares (issued and outstanding 2023 and 2022: 4,400; liquidation preference $110)
SHAREHOLDERS’ EQUITY (Note 12)
Preferred Shares	110	110
Short-term Investments
ASSETS
Investments, trading, at fair value	3	14
Investments, available-for-sale, at fair value	25	38
Fixed maturity investments
ASSETS
Investments, trading, at fair value	2,153	2,370
Investments, available-for-sale, at fair value	$ 5,183	$ 5,223