Heartland Advisors Inc. lowered its position in Radian Group Inc. (NYSE:RDN) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 914,100 shares of the insurance provider’s stock after selling 29,450 shares during the quarter. Radian Group accounts for about 1.1% of Heartland Advisors Inc.’s holdings, making the stock its 12th largest position. Heartland Advisors Inc. owned 0.42% of Radian Group worth $17,085,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of Radian Group by 4.4% in the 1st quarter. Bank of America Corp DE now owns 1,337,584 shares of the insurance provider’s stock worth $24,023,000 after buying an additional 56,926 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Radian Group by 116.7% in the 2nd quarter. SG Americas Securities LLC now owns 66,097 shares of the insurance provider’s stock worth $1,081,000 after buying an additional 35,595 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Radian Group by 1.3% in the 1st quarter. California Public Employees Retirement System now owns 415,200 shares of the insurance provider’s stock worth $7,457,000 after buying an additional 5,500 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Radian Group by 27.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,342,225 shares of the insurance provider’s stock worth $25,086,000 after buying an additional 292,200 shares in the last quarter. Finally, Denver Investment Advisors LLC raised its holdings in shares of Radian Group by 35.5% in the 2nd quarter. Denver Investment Advisors LLC now owns 1,765,177 shares of the insurance provider’s stock worth $28,860,000 after buying an additional 462,888 shares in the last quarter. Institutional investors own 91.34% of the company’s stock.
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Radian Group Inc. (RDN) traded up $0.29 during trading hours 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. Radian Group Inc. has a 1-year low of $13.62 and a 1-year high of $21.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $4,240.17, a price-to-earnings ratio of 11.44, a P/E/G ratio of 2.24 and a beta of 1.59.
Radian Group (NYSE:RDN) last posted its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.46 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $321.10 million. During the same period last year, the company earned $0.41 EPS. The firm’s revenue was down 2.8% on a year-over-year basis. sell-side analysts predict that Radian Group Inc. will post 1.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be issued a dividend of $0.002 per share. The ex-dividend date is Friday, November 24th. This represents a $0.01 annualized dividend and a yield of 0.04%. Radian Group’s dividend payout ratio is presently 1.28%.
Radian Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 9th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have recently issued reports on the company. B. Riley reissued a “buy” rating on shares of Radian Group in a report on Monday, November 6th. Deutsche Bank AG cut Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Friday, November 3rd. BTIG Research reaffirmed a “buy” rating and set a $22.00 price target on shares of Radian Group in a report on Sunday, October 29th. Compass Point raised Radian Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $21.75 to $24.75 in a report on Friday, October 27th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Radian Group in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Radian Group currently has a consensus rating of “Buy” and a consensus price target of $22.59.
In other Radian Group news, CEO Richard G. Thornberry bought 15,000 shares of Radian Group stock in a transaction on Friday, August 18th. The shares were purchased at an average cost 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 in the company, valued at approximately $251,700. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard G. Thornberry bought 5,000 shares of Radian Group stock in a transaction on Monday, August 21st. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $330,800. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
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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