Denali Advisors LLC Buys New Holdings in Radian Group Inc. (NYSE:RDN)

Denali Advisors LLC bought a new stake in Radian Group Inc. (NYSE:RDN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 83,376 shares of the insurance provider's stock, valued at approximately $2,757,000. Denali Advisors LLC owned 0.06% of Radian Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Covestor Ltd grew its stake in Radian Group by 35.6% during the 4th quarter. Covestor Ltd now owns 1,351 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 355 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Radian Group in the fourth quarter valued at about $127,000. Stevens Capital Management LP bought a new stake in shares of Radian Group in the 4th quarter worth approximately $213,000. GAMMA Investing LLC increased its stake in Radian Group by 13.9% in the first quarter. GAMMA Investing LLC now owns 7,363 shares of the insurance provider's stock valued at $243,000 after acquiring an additional 900 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Radian Group in the fourth quarter valued at about $248,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Radian Group news, Director Noel Joseph Spiegel sold 5,105 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.66, for a total transaction of $171,834.30. Following the transaction, the director owned 20,008 shares of the company's stock, valued at approximately $673,469.28. This trade represents a 20.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eric Ray sold 30,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.30, for a total transaction of $999,000.00. Following the sale, the executive vice president directly owned 13,957 shares of the company's stock, valued at approximately $464,768.10. The trade was a 68.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,378 shares of company stock worth $2,944,414 over the last 90 days. Corporate insiders own 2.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RDN shares. Compass Point downgraded Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Barclays raised their price objective on Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. UBS Group reaffirmed a "neutral" rating and issued a $38.00 target price (up from $36.00) on shares of Radian Group in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods cut shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price on the stock. in a report on Monday, July 7th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $37.50.

Radian Group Price Performance

Shares of NYSE:RDN traded down $0.17 during trading on Friday, hitting $33.82. 983,003 shares of the company's stock were exchanged, compared to its average volume of 1,291,712. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.44 and a quick ratio of 3.44. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $37.86. The business's 50-day simple moving average is $34.52 and its 200 day simple moving average is $33.17. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 8.61 and a beta of 0.72.

Radian Group (NYSE:RDN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The company had revenue of $318.11 million for the quarter, compared to the consensus estimate of $326.99 million. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. The firm's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities analysts predict that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group announced that its Board of Directors has authorized a share buyback program on Wednesday, May 21st that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 16.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Radian Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.02 annualized dividend and a yield of 3.02%. Radian Group's dividend payout ratio (DPR) is 25.95%.

Radian Group Company Profile

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.