Canada Pension Plan Investment Board Invests $9.56 Million in Radian Group Inc. (NYSE:RDN)

Canada Pension Plan Investment Board purchased a new stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 301,500 shares of the insurance provider's stock, valued at approximately $9,564,000. Canada Pension Plan Investment Board owned 0.20% of Radian Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its position in Radian Group by 54.3% during the 4th quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 342 shares during the period. V Square Quantitative Management LLC increased its holdings in Radian Group by 61.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,274 shares of the insurance provider's stock valued at $40,000 after buying an additional 485 shares during the period. Covestor Ltd raised its stake in Radian Group by 35.6% in the fourth quarter. Covestor Ltd now owns 1,351 shares of the insurance provider's stock worth $43,000 after buying an additional 355 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Radian Group by 124.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,378 shares of the insurance provider's stock worth $75,000 after buying an additional 1,320 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Radian Group by 735.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,407 shares of the insurance provider's stock valued at $76,000 after acquiring an additional 2,119 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RDN. UBS Group upped their price objective on Radian Group from $33.00 to $34.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price target on shares of Radian Group from $40.00 to $37.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $36.20.

Radian Group Stock Down 1.6 %

RDN stock traded down $0.50 on Friday, hitting $31.41. 720,774 shares of the company's stock were exchanged, compared to its average volume of 1,198,350. The firm has a 50 day moving average price of $32.08 and a two-hundred day moving average price of $33.01. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.87. Radian Group Inc. has a 12-month low of $29.77 and a 12-month high of $37.86. The stock has a market cap of $4.44 billion, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 1.73 and a beta of 0.75.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. Radian Group had a net margin of 46.85% and a return on equity of 13.96%. As a group, equities research analysts expect that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Monday, February 24th were paid a $0.255 dividend. This is a positive change from Radian Group's previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 24th. This represents a $1.02 dividend on an annualized basis and a yield of 3.25%. Radian Group's dividend payout ratio (DPR) is 25.95%.

Insiders Place Their Bets

In related news, Director Gregory Serio sold 4,100 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.65, for a total value of $133,865.00. Following the sale, the director now owns 344 shares in the company, valued at $11,231.60. This represents a 92.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.16% of the stock is currently owned by insiders.

About Radian Group

Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates through two segments, Mortgage Insurance and Homegenius segments. The Mortgage Insurance segment aggregates, manages, and distributes U.S. mortgage credit risk for mortgage lending institutions and mortgage credit investors, through private mortgage insurance on residential first-lien mortgage loans; and other credit risk management solutions, including contract underwriting.