Enstar Group Limited (ESGR) Bounced Back From Lows

Diamond Hill Capital, an investment management company, released its “Small Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 6.98% net of fees, outperforming the benchmark Russell 2000 Index, which returned 6.23%. Strength in health care, consumer discretionary, and materials holdings contributed to the fund’s outperformance in the quarter while holdings in energy and information technology detracted from the performance.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Capital highlighted stocks like Enstar Group Limited (NASDAQ:ESGR) in the fourth quarter 2022 investor letter. Headquartered in  Hamilton, Bermuda, Enstar Group Limited (NASDAQ:ESGR) acquires and manages insurance companies. On January 24, 2023, Enstar Group Limited (NASDAQ:ESGR) stock closed at $240.76 per share. One-month return of Enstar Group Limited (NASDAQ:ESGR) was 5.83%, and its shares lost 8.44% of their value over the last 52 weeks. Enstar Group Limited (NASDAQ:ESGR)  has a market capitalization of $4.234 billion.

Diamond Hill Capital made the following comment about Enstar Group Limited (NASDAQ:ESGR) in its Q4 2022 investor letter:

“Other top contributors included Enstar Group Limited (NASDAQ:ESGR), ESAB Corp and Taseko Mines. Shares of runoff consolidator Enstar bounced back from a tough Q3. Enstar buys other companies’ non-core business lines and efficiently settles claims until the liabilities are exhausted. It has a proven ability to compound value over time and create value across cycles, and we believe it can continue to do so.”

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Enstar Group Limited (NASDAQ:ESGR)  is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Enstar Group Limited (NASDAQ:ESGR)  at the end of the third quarter, which was 10 in the previous quarter.

We discussed Enstar Group Limited (NASDAQ:ESGR)  in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.