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HAMILTON—Patel Hiteshkumar R., a director at Enstar Group Ltd (NASDAQ:ESGR), a $4.75 billion market cap company with a solid financial health score of "GOOD" according to InvestingPro, executed a sale of 484 ordinary shares on March 18, according to a recent SEC filing. The shares were sold at a price of $332.17 each, amounting to a total transaction value of approximately $160,770. The transaction occurred as the stock trades near its 52-week high, with a relatively attractive P/E ratio of 9x. Following this transaction, Patel no longer holds any shares in the company. The sale was conducted directly, as indicated in the filing. InvestingPro analysis reveals the stock typically exhibits low price volatility, with several additional insights available to subscribers.
In other recent news, Enstar Group Limited has announced the issuance of $350 million in junior subordinated notes, set to mature in 2045. These notes carry a fixed interest rate of 7.500% and were issued to accredited investors in the United States and certain non-U.S. persons in offshore transactions. The proceeds from this issuance are planned to fund the repurchase of existing 5.750% junior subordinated notes due in 2040, as part of a tender offer. Additionally, Enstar has launched its 2025 Annual Incentive Compensation Program aimed at providing cash bonuses to senior executive officers and other eligible participants. This new program replaces the previous 2022-2024 incentive plan and is aligned with company performance and talent retention strategies. Furthermore, Enstar has finalized an agreement to enhance reinsurance coverage for James River Group (NASDAQ:JRVR) Holdings, Ltd. subsidiaries. This agreement includes an additional $75 million limit to the existing reinsurance cover and a $12.5 million investment in James River common stock. These developments reflect Enstar’s ongoing capital management and strategic initiatives in the insurance and reinsurance sectors.
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