State Board of Administration of Florida Retirement System decreased its position in Radian Group Inc. (NYSE:RDN) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,235 shares of the insurance provider’s stock after selling 7,461 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Radian Group worth $4,677,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Radian Group by 116.7% in the second 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 period. Vaughan Nelson Investment Management L.P. lifted its holdings in Radian Group by 27.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,342,225 shares of the insurance provider’s stock valued at $25,086,000 after buying an additional 292,200 shares during the period. Denver Investment Advisors LLC lifted its holdings in Radian Group by 35.5% in the second 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 period. Bank of New York Mellon Corp increased its stake in Radian Group by 0.6% in the second 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 purchasing an additional 7,650 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Radian Group by 15.7% in the second quarter. Nationwide Fund Advisors now owns 637,745 shares of the insurance provider’s stock valued at $10,427,000 after purchasing an additional 86,308 shares in the last quarter. Institutional investors and hedge funds own 91.34% of the company’s stock.
Several research firms have weighed in on RDN. B. Riley reaffirmed a “buy” rating on shares of Radian Group in a research note on Monday, November 6th. Deutsche Bank AG downgraded shares of Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Friday, November 3rd. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price target on shares of Radian Group in a research note on Sunday, October 29th. Compass Point raised shares of Radian Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.75 to $24.75 in a research note on Friday, October 27th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Radian Group in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.59.
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Shares of Radian Group Inc. (NYSE:RDN) opened at $19.87 on Wednesday. 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 company has a market cap of $4,280.00, a PE ratio of 11.60, a PEG ratio of 2.27 and a beta of 1.59. Radian Group Inc. has a 52-week low of $13.62 and a 52-week high of $21.59.
Radian Group (NYSE:RDN) last posted its earnings results on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $312.05 million during the quarter, compared to the consensus estimate of $321.10 million. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. research analysts anticipate that Radian Group Inc. will post 1.76 EPS for the current year.
Radian Group declared that its board has authorized a stock repurchase program on Wednesday, August 9th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 27th will be given a dividend of $0.002 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Friday, November 24th. Radian Group’s payout ratio is presently 1.27%.
In other news, CEO Richard G. Thornberry purchased 5,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now owns 20,000 shares in the company, valued at $330,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard G. Thornberry purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $16.78 per share, for a total transaction of $251,700.00. Following the completion of the acquisition, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $251,700. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
About Radian Group
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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