Convergence Investment Partners LLC trimmed its holdings in shares of Radian Group Inc (NYSE:RDN) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,025 shares of the insurance provider’s stock after selling 21,953 shares during the period. Convergence Investment Partners LLC’s holdings in Radian Group were worth $1,773,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC purchased a new position in shares of Radian Group during the third quarter valued at approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Radian Group by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 803 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Radian Group during the second quarter valued at approximately $175,000. ETRADE Capital Management LLC purchased a new position in shares of Radian Group during the second quarter valued at approximately $183,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Radian Group during the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.
A number of brokerages recently weighed in on RDN. FBR & Co restated a “buy” rating on shares of Radian Group in a report on Thursday, October 26th. Susquehanna Bancshares set a $22.00 price objective on shares of Radian Group and gave the stock a “buy” rating in a report on Monday, October 16th. BTIG Research restated a “buy” rating and issued a $22.00 price objective on shares of Radian Group in a report on Sunday, October 15th. ValuEngine lowered shares of Radian Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 10th. Finally, Compass Point upgraded shares of Radian Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $21.75 to $24.75 in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.89.
Radian Group (NYSE:RDN) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $312.05 million during the quarter, compared to analyst estimates 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 business earned $0.41 EPS. analysts anticipate that Radian Group Inc will post 1.75 earnings per share for the current year.
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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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