Calamos Advisors LLC lowered its holdings in shares of Radian Group Inc. (NYSE:RDN) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,034,482 shares of the insurance provider’s stock after selling 19,518 shares during the period. Calamos Advisors LLC owned about 0.95% of Radian Group worth $38,024,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Radian Group by 4.4% in the first quarter. Bank of America Corp DE now owns 1,337,584 shares of the insurance provider’s stock valued at $24,023,000 after purchasing an additional 56,926 shares during the period. SG Americas Securities LLC raised its holdings in Radian Group by 116.7% during the 2nd quarter. SG Americas Securities LLC now owns 66,097 shares of the insurance provider’s stock valued at $1,081,000 after buying an additional 35,595 shares during the last quarter. California Public Employees Retirement System raised its holdings in Radian Group by 1.3% during the 1st quarter. California Public Employees Retirement System now owns 415,200 shares of the insurance provider’s stock valued at $7,457,000 after buying an additional 5,500 shares during the last quarter. Denver Investment Advisors LLC raised its holdings in Radian Group by 35.5% during the 2nd quarter. Denver Investment Advisors LLC now owns 1,765,177 shares of the insurance provider’s stock valued at $28,860,000 after buying an additional 462,888 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Radian Group by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,257,091 shares of the insurance provider’s stock valued at $20,554,000 after buying an additional 7,650 shares during the last quarter. 91.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Radian Group Inc. (NYSE RDN) traded up $0.29 during mid-day trading on Tuesday, hitting $19.96. The stock had a trading volume of 1,608,700 shares, compared to its average volume of 1,676,159. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4,240.17, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.24 and a beta of 1.59. Radian Group Inc. has a twelve month low of $13.62 and a twelve month high of $21.59.
Radian Group (NYSE:RDN) last announced its earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Radian Group had a return on equity of 12.99% and a net margin of 14.88%. The business had revenue of $312.05 million during the quarter, compared to the consensus estimate of $321.10 million. During the same period in the prior year, the company posted $0.41 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. research analysts forecast that Radian Group Inc. will post 1.76 EPS for the current year.
Radian Group declared that its board has approved a stock buyback plan on Wednesday, August 9th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the insurance provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be paid a $0.002 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Friday, November 24th. Radian Group’s dividend payout ratio (DPR) is presently 1.28%.
RDN has been the topic of a number of recent analyst reports. Deutsche Bank AG downgraded shares of Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Friday, November 3rd. BTIG Research reiterated a “buy” rating and set a $22.00 price objective on shares of Radian Group in a research report on Sunday, October 29th. Compass Point raised shares of Radian Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $21.75 to $24.75 in a report on Friday, October 27th. FBR & Co reaffirmed a “buy” rating on shares of Radian Group in a research note on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $22.59.
In other Radian Group news, CEO Richard G. Thornberry bought 15,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $16.78 per share, with a total value of $251,700.00. Following the transaction, the chief executive officer now owns 15,000 shares of the company’s stock, valued at $251,700. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard G. Thornberry bought 5,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $330,800. The disclosure for this purchase can be found here. 1.06% of the stock is owned by company insiders.
Radian Group Company Profile
Radian Group Inc is an insurance holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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