Financial Business Review: Enstar BUYS SeaBright, JPMorgan and CME’s Financial Sector EXPOSURE

The insurance consultancy firm Enstar Group (NASDAQ:ESGR) will purchase the insurance holding company SeaBright Holdings (NYSE:SBX) for approximately $249 million in cash, or $11.11 per share, which represents a 34 percent bonus to SeaBright’s Monday close.

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JPMorgan Chase & Co. (NYSE:JPM) and CME Group Inc. (NASDAQ:CME) should gain the most if institutional investors will elevate their financial sector exposure just up to a neutral weighting, says Keefe, Bruyette. Underweight financials funds are only 14 basis points below that mark today.

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