Zacks Investment Research lowered shares of Maiden (NASDAQ:MHLD) from a hold rating to a strong sell rating in a report issued on Tuesday, January 9th.
According to Zacks, “MAIDEN HOLDINGS is a Bermuda holding company which offers customized reinsurance products and services through Maiden Insurance Company, Ltd., its wholly owned Bermuda reinsurance subsidiary, to subsidiaries of AmTrust Financial Services, Inc. and small insurance companies and managing general agents in the United States and Europe. “
MHLD has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a hold rating and issued a $7.00 price target on shares of Maiden in a report on Wednesday, December 6th. B. Riley reissued a neutral rating and issued a $10.00 price objective on shares of Maiden in a research note on Monday, November 6th. BidaskClub cut Maiden from a hold rating to a sell rating in a research note on Thursday, December 21st. Finally, FBR & Co reissued a hold rating and issued a $11.00 price objective on shares of Maiden in a research note on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Maiden has a consensus rating of Hold and a consensus target price of $10.40.
Maiden (NASDAQ:MHLD) last issued its quarterly earnings results on Wednesday, November 8th. The insurance provider reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.77). Maiden had a negative return on equity of 9.10% and a negative net margin of 3.95%. The business had revenue of $653.87 million during the quarter, compared to analysts’ expectations of $708.04 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. research analysts anticipate that Maiden will post -0.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.15 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.60 annualized dividend and a yield of 7.79%. Maiden’s dividend payout ratio (DPR) is currently -36.59%.
In other news, Director Raymond Michael Neff acquired 46,500 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $6.40 per share, with a total value of $297,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Maiden by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,104,728 shares of the insurance provider’s stock valued at $78,863,000 after acquiring an additional 493,436 shares in the last quarter. Vanguard Group Inc. boosted its position in Maiden by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 6,567,499 shares of the insurance provider’s stock valued at $72,900,000 after acquiring an additional 95,376 shares in the last quarter. Boston Partners boosted its position in Maiden by 6.6% during the 3rd quarter. Boston Partners now owns 4,877,487 shares of the insurance provider’s stock valued at $38,776,000 after acquiring an additional 302,529 shares in the last quarter. Principal Financial Group Inc. boosted its position in Maiden by 12.7% during the 3rd quarter. Principal Financial Group Inc. now owns 3,399,545 shares of the insurance provider’s stock valued at $27,027,000 after acquiring an additional 383,524 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Maiden by 14.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,577,213 shares of the insurance provider’s stock valued at $12,539,000 after acquiring an additional 194,708 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.
Maiden Company Profile
Maiden Holdings, Ltd. (Maiden) is a holding company. The Company focuses on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. It operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.
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