PNC Financial Services Group Inc. Sells 21,204 Shares of Maiden Holdings, Ltd. (MHLD)
PNC Financial Services Group Inc. lowered its holdings in Maiden Holdings, Ltd. (NASDAQ:MHLD) by 25.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,004 shares of the insurance provider’s stock after selling 21,204 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.07% of Maiden Holdings worth $699,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Maiden Holdings in the 2nd quarter valued at about $115,000. JFS Wealth Advisors LLC raised its holdings in shares of Maiden Holdings by 8.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 13,481 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 1,011 shares in the last quarter. GRT Capital Partners L.L.C. bought a new stake in shares of Maiden Holdings in the 2nd quarter valued at about $155,000. WBI Investments Inc. bought a new stake in shares of Maiden Holdings in the 2nd quarter valued at about $157,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Maiden Holdings by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,523 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 6,433 shares in the last quarter. Institutional investors and hedge funds own 66.88% of the company’s stock.
Maiden Holdings (NASDAQ:MHLD) last issued its earnings results on Tuesday, August 8th. The insurance provider reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.43). The firm had revenue of $753.18 million during the quarter, compared to analyst estimates of $740.30 million. Maiden Holdings had a negative net margin of 0.61% and a negative return on equity of 0.55%.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.60 annualized dividend and a yield of 7.23%. Maiden Holdings’s dividend payout ratio (DPR) is -120.00%.
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Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered shares of Maiden Holdings from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $17.00 to $10.00 in a report on Thursday, August 10th. JMP Securities restated a “mkt outperform” rating and issued a $9.00 price target on shares of Maiden Holdings in a report on Thursday, August 10th. FBR & Co restated a “hold” rating and issued a $13.00 price target on shares of Maiden Holdings in a report on Tuesday, June 27th. Zacks Investment Research lowered shares of Maiden Holdings from a “hold” rating to a “strong sell” rating in a report on Saturday, September 23rd. Finally, BidaskClub lowered shares of Maiden Holdings from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.25.
Maiden Holdings 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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