Amundi Sells 17,469 Shares of Radian Group Inc. $RDN

Key Points

• Amundi has reduced its holdings in Radian Group Inc. by 22.7%, resulting in 59,606 shares valued at approximately $1.96 million as of the latest SEC filing.
• The company announced a $750 million stock buyback plan allowing it to repurchase up to 16.9% of its shares, which often indicates management believes the stock is undervalued.
• Radian Group's latest earnings report showed an EPS of $1.01, beating estimates, despite a year-over-year revenue decline of 0.9%.

Amundi decreased its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,606 shares of the insurance provider's stock after selling 17,469 shares during the period. Amundi's holdings in Radian Group were worth $1,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Radian Group by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,340,962 shares of the insurance provider's stock worth $209,696,000 after purchasing an additional 246,799 shares during the period. American Century Companies Inc. increased its holdings in shares of Radian Group by 9.2% during the first quarter. American Century Companies Inc. now owns 3,658,250 shares of the insurance provider's stock worth $120,978,000 after buying an additional 306,889 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Radian Group by 5.3% during the first quarter. Ameriprise Financial Inc. now owns 1,569,410 shares of the insurance provider's stock worth $51,902,000 after buying an additional 79,159 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Radian Group by 11,446.4% during the first quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider's stock worth $43,339,000 after buying an additional 1,299,167 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Radian Group during the first quarter worth approximately $40,749,000. Institutional investors own 95.33% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of 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 lowered shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective for the company. in a report on Monday, July 7th. Compass Point lowered shares of Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, 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. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Radian Group currently has a consensus rating of "Hold" and an average target price of $37.00.

Insider Activity

In other news, EVP Edward J. Hoffman sold 20,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $36.00, for a total value of $720,000.00. Following the completion of the transaction, the executive vice president owned 161,586 shares of the company's stock, valued at $5,817,096. The trade was a 11.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.16% of the stock is owned by company insiders.

Radian Group Trading Down 1.1%

RDN traded down $0.40 during trading on Monday, reaching $34.76. 846,550 shares of the company's stock were exchanged, compared to its average volume of 615,404. The company's fifty day moving average price is $34.38 and its 200-day moving average price is $33.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $36.99. The firm has a market capitalization of $4.71 billion, a PE ratio of 8.75 and a beta of 0.75.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The company had revenue of $318.00 million during the quarter, compared to analyst estimates of $321.97 million. During the same quarter in the previous year, the business earned $0.98 EPS. The firm's revenue was down .9% on a year-over-year basis. As a group, equities analysts forecast that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.02 annualized dividend and a dividend yield of 2.9%. Radian Group's payout ratio is 25.69%.

Radian Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 21st that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are 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.