19,327,643 Shares in Radian Group Inc. $RDN Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 19.3 million Radian Group shares worth approximately $728 million, giving it a 14.53% stake. Institutional investors collectively own 95.33% of RDN.
• Analyst sentiment remains positive overall, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $42.17.
• Radian reported quarterly revenue of $574.96 million, up 92.3% year over year, but earnings per share of $1.14 missed estimates. The company also declared a quarterly dividend of $0.255 per share, representing a 2.8% yield.

BlackRock Inc. bought a new position in Radian Group Inc. (NYSE:RDN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,327,643 shares of the insurance provider's stock, valued at approximately $728,072,000. BlackRock Inc. owned approximately 14.53% of Radian Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in Radian Group by 178.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider's stock valued at $27,000 after buying an additional 476 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Radian Group by 191.3% in the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock worth $29,000 after buying an additional 572 shares during the period. Fifth Third Bancorp increased its holdings in shares of Radian Group by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider's stock worth $33,000 after buying an additional 360 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Radian Group in the 3rd quarter valued at about $34,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Radian Group in the 2nd quarter valued at about $37,000. 95.33% of the stock is currently owned by institutional investors.

Insider Transactions at Radian Group

In related news, Director Noel Joseph Spiegel sold 4,834 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the completion of the transaction, the director directly owned 20,008 shares in the company, valued at $724,089.52. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret Anne Leyden sold 2,070 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.59, for a total transaction of $71,601.30. Following the completion of the transaction, the director owned 6,864 shares of the company's stock, valued at approximately $237,425.76. The trade was a 23.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 15,517 shares of company stock worth $557,610 in the last ninety days. 2.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RDN has been the topic of several recent research reports. Bank of America upgraded Radian Group from an "underperform" rating to a "buy" rating and raised their price target for the stock from $35.00 to $43.00 in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods lowered their price objective on Radian Group from $46.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th. Weiss Ratings raised Radian Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada initiated coverage on shares of Radian Group in a report on Friday, May 22nd. They set an "outperform" rating and a $47.00 price target for the company. Finally, Barclays lowered their price target on Radian Group from $39.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.17.

Radian Group Price Performance

RDN stock opened at $36.61 on Friday. Radian Group Inc. has a 1 year low of $31.50 and a 1 year high of $41.05. The company has a market cap of $4.84 billion, a P/E ratio of 9.41, a PEG ratio of 0.89 and a beta of 0.72. The firm has a 50-day moving average of $37.45 and a 200 day moving average of $35.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60.

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

Radian Group Dividend Announcement

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

Radian Group Company Profile

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.

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