Compass Point Sees Higher-Than-Expected Premium Growth For Maiden Holdings

In a report published Thursday, Compass Point analyst Ken Billingsley reiterated a Buy rating and $16.00 price target on Maiden Holdings, Ltd. (NASDAQ: MHLD).

In the report, Compass Point noted, "MHLD reported 4Q14 operating EPS of $0.44 versus the consensus and our estimate of $0.39. Diluted tangible book value per share (adjusted for converts) was $11.81 with an operating ROATE of 13.7%. Operating EPS was adjusted higher $0.09 per share related to the company's runoff E&S and NGHC quota share business that has been terminated. Topline growth exceeded expectations on the strong growth in the AmTrust segment, and the company has initiated a retro-reinsurance agreement to support growth in 2015. This could infer the company expects future premium growth in excess of our current expectations."

Maiden Holdings closed on Wednesday at $14.22.