Bank of New York Mellon Corp cut its position in shares of Maiden Holdings, Ltd. (NASDAQ:MHLD) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,506,546 shares of the insurance provider’s stock after selling 87,308 shares during the quarter. Bank of New York Mellon Corp owned about 1.74% of Maiden Holdings worth $16,723,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Maiden Holdings during the second quarter valued at approximately $115,000. Rhumbline Advisers boosted its position in shares of Maiden Holdings by 4.3% during the second quarter. Rhumbline Advisers now owns 142,688 shares of the insurance provider’s stock valued at $1,584,000 after purchasing an additional 5,871 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Maiden Holdings by 0.5% during the second quarter. Arizona State Retirement System now owns 38,400 shares of the insurance provider’s stock valued at $426,000 after purchasing an additional 200 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Maiden Holdings by 50.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 623,463 shares of the insurance provider’s stock valued at $6,921,000 after purchasing an additional 210,223 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Maiden Holdings by 67.5% during the second quarter. Trexquant Investment LP now owns 30,579 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 12,327 shares in the last quarter. Institutional investors own 66.88% of the company’s stock.
Several research firms recently weighed in on MHLD. FBR & Co dropped their price target on Maiden Holdings from $13.00 to $12.00 and set a “mkt perform” rating on the stock in a research report on Tuesday, July 11th. BidaskClub lowered Maiden Holdings from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. JMP Securities reissued a “mkt outperform” rating and issued a $9.00 target price on shares of Maiden Holdings in a report on Thursday, August 10th. Keefe, Bruyette & Woods downgraded Maiden Holdings from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $17.00 to $10.00 in a report on Thursday, August 10th. Finally, Zacks Investment Research raised Maiden Holdings from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $11.50.
Shares of Maiden Holdings, Ltd. (NASDAQ MHLD) opened at 7.50 on Wednesday. The company’s market capitalization is $649.65 million. Maiden Holdings, Ltd. has a 12-month low of $6.25 and a 12-month high of $18.95. The firm has a 50-day moving average price of $7.88 and a 200 day moving average price of $11.00.
Maiden Holdings (NASDAQ:MHLD) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.43). Maiden Holdings had a negative net margin of 0.61% and a negative return on equity of 0.55%. The company had revenue of $753.18 million during the quarter, compared to analysts’ expectations of $740.30 million. On average, equities research analysts predict that Maiden Holdings, Ltd. will post $0.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.15 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.00%. Maiden Holdings’s dividend payout ratio is presently -120.00%.
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About Maiden Holdings
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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