Zacks Investment Research Upgrades Maiden Holdings Ltd. (MHLD) to Hold
Maiden Holdings Ltd. (NASDAQ:MHLD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Separately, JMP Securities reaffirmed a “buy” rating on shares of Maiden Holdings in a research note on Tuesday, June 28th.
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Shares of Maiden Holdings (NASDAQ:MHLD) opened at 13.31 on Wednesday. Maiden Holdings has a one year low of $11.14 and a one year high of $16.10. The company’s 50 day moving average price is $13.32 and its 200 day moving average price is $13.00. The stock has a market capitalization of $985.17 million, a price-to-earnings ratio of 9.75 and a beta of 1.13.
Maiden Holdings (NASDAQ:MHLD) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Maiden Holdings had a net margin of 5.14% and a return on equity of 13.98%. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, analysts expect that Maiden Holdings will post $1.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, October 3rd. Maiden Holdings’s payout ratio is currently 41.18%.
Institutional investors have recently added to or reduced their stakes in the stock. Meritage Portfolio Management acquired a new position in Maiden Holdings during the second quarter valued at about $3,364,000. Fox Run Management L.L.C. purchased a new stake in Maiden Holdings during the second quarter valued at $125,000. Quantum Capital Management boosted its stake in Maiden Holdings by 8.4% in the first quarter. Quantum Capital Management now owns 13,224 shares of the company’s stock valued at $171,000 after buying an additional 1,021 shares during the period. Barclays PLC boosted its stake in Maiden Holdings by 8.5% in the first quarter. Barclays PLC now owns 68,853 shares of the company’s stock valued at $826,000 after buying an additional 5,406 shares during the period. Finally, Hancock Holding Co. boosted its stake in Maiden Holdings by 5.3% in the first quarter. Hancock Holding Co. now owns 55,891 shares of the company’s stock valued at $723,000 after buying an additional 2,830 shares during the period. 70.31% of the stock is owned by hedge funds and other institutional investors.
About Maiden Holdings
Maiden Holdings, Ltd. (Maiden) is a holding company. The Company is focused 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. Maiden operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.
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