110,900 Shares in Radian Group Inc. $RDN Bought by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 110,900 Radian Group shares worth approximately $4.18 million, while institutional investors and hedge funds collectively own 95.33% of the company.
• Radian Group’s CEO purchased 49,513 shares for about $1.69 million, increasing his direct ownership by 41.09%.
• The company reported quarterly revenue of $574.96 million, up 92.3% year over year, but earnings per share of $1.14 fell short of analyst expectations. Radian also announced a quarterly dividend of $0.255 per share, yielding about 2.8% annually.

Canada Pension Plan Investment Board bought a new stake in Radian Group Inc. (NYSE:RDN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 110,900 shares of the insurance provider's stock, valued at approximately $4,178,000. Canada Pension Plan Investment Board owned about 0.08% of Radian Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Radian Group during the 2nd quarter worth about $728,072,000. Charles Schwab Investment Management Inc. raised its position in shares of Radian Group by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider's stock worth $214,481,000 after acquiring an additional 63,437 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Radian Group by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider's stock worth $196,773,000 after acquiring an additional 230,912 shares in the last quarter. Donald Smith & CO. Inc. purchased a new stake in Radian Group during the second quarter worth approximately $163,104,000. Finally, Balyasny Asset Management L.P. lifted its stake in Radian Group by 16.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider's stock worth $78,769,000 after purchasing an additional 315,575 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Radian Group news, CEO Michael S. Weinbach purchased 49,513 shares of Radian Group stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average price of $34.04 per share, for a total transaction of $1,685,422.52. Following the transaction, the chief executive officer directly owned 170,000 shares in the company, valued at $5,786,800. This trade represents a 41.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.03% of the stock is currently owned by company insiders.

Radian Group Trading Up 0.3%

RDN opened at $36.52 on Monday. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $41.05. The business's 50 day moving average is $37.64 and its two-hundred day moving average is $35.65. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.34 by ($0.20). The firm had revenue of $574.96 million during the quarter, compared to analysts' expectations of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. Radian Group's quarterly revenue was up 92.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. On average, research analysts predict that Radian Group Inc. will post 4.86 EPS for the current year.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 24th. Radian Group's payout ratio is presently 26.22%.

Analyst Ratings Changes

Several equities analysts have commented on RDN shares. Barclays dropped their price target on shares of Radian Group from $39.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Radian Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada assumed coverage on shares of Radian Group in a report on Friday, May 22nd. They issued an "outperform" rating and a $47.00 target price for the company. Keefe, Bruyette & Woods dropped their target price on shares of Radian Group from $46.00 to $44.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Radian Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.17.

About Radian Group

Radian Group Inc NYSE: RDN is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian's core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source