Allianz Asset Management GmbH Cuts Stock Position in Radian Group Inc. (NYSE:RDN)

Allianz Asset Management GmbH lowered its stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 20.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,460 shares of the insurance provider's stock after selling 253,144 shares during the quarter. Allianz Asset Management GmbH owned about 0.69% of Radian Group worth $32,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in RDN. Norges Bank bought a new stake in Radian Group during the fourth quarter valued at about $73,693,000. First Trust Advisors LP boosted its position in Radian Group by 20.6% during the fourth quarter. First Trust Advisors LP now owns 10,766,237 shares of the insurance provider's stock valued at $341,505,000 after purchasing an additional 1,836,020 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Radian Group by 109.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 901,260 shares of the insurance provider's stock valued at $28,588,000 after purchasing an additional 470,158 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Radian Group during the fourth quarter valued at about $9,564,000. Finally, GAMMA Investing LLC boosted its position in Radian Group by 3,667.5% during the first quarter. GAMMA Investing LLC now owns 243,494 shares of the insurance provider's stock valued at $7,363,000 after purchasing an additional 237,031 shares in the last quarter. Institutional investors own 95.33% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Radian Group news, Director Lisa Mumford sold 2,500 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $33.45, for a total value of $83,625.00. Following the completion of the transaction, the director directly owned 22,329 shares of the company's stock, valued at approximately $746,905.05. The trade was a 10.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Ray sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $33.30, for a total value of $999,000.00. Following the completion of the transaction, the executive vice president directly owned 13,957 shares of the company's stock, valued at $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 a total of 86,378 shares of company stock valued at $2,944,414 in the last three months. 2.01% of the stock is currently owned by company insiders.

Radian Group Stock Performance

Shares of Radian Group stock traded down $0.23 on Thursday, reaching $33.80. 1,030,695 shares of the stock were exchanged, compared to its average volume of 1,068,843. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.52. Radian Group Inc. has a twelve month low of $29.32 and a twelve month high of $37.86. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.60 and a beta of 0.72. The business has a 50 day moving average price of $34.53 and a two-hundred day moving average price of $33.21.

Radian Group (NYSE:RDN - Get Free Report) last released 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. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. The firm had revenue of $318.11 million during the quarter, compared to the consensus estimate of $326.99 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company's revenue was down .4% compared to the same quarter last year. Analysts anticipate that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Announces Dividend

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

Radian Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to purchase up to 16.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Radian Group 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.