Assenagon Asset Management S.A. Trims Stock Position in Radian Group Inc. (NYSE:RDN)

Assenagon Asset Management S.A. cut its position in Radian Group Inc. (NYSE:RDN - Free Report) by 48.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 526,950 shares of the insurance provider's stock after selling 493,962 shares during the quarter. Assenagon Asset Management S.A. owned about 0.37% of Radian Group worth $17,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in Radian Group by 54.3% during the 4th quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider's stock worth $31,000 after purchasing an additional 342 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Radian Group by 61.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,274 shares of the insurance provider's stock worth $40,000 after acquiring an additional 485 shares during the last quarter. Covestor Ltd raised its holdings in shares of Radian Group by 35.6% in 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. Smartleaf Asset Management LLC raised its stake in Radian Group by 124.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,378 shares of the insurance provider's stock valued at $75,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Radian Group by 735.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,407 shares of the insurance provider's stock worth $76,000 after acquiring an additional 2,119 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RDN has been the topic of a number of research reports. UBS Group raised their price objective on Radian Group from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Compass Point downgraded Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $38.00 price objective (up from $37.00) on shares of Radian Group in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.83.

Radian Group Stock Down 1.9%

NYSE:RDN traded down $0.64 during trading hours on Tuesday, reaching $33.88. 1,752,329 shares of the company traded hands, compared to its average volume of 1,245,677. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.52. The business's 50-day moving average price is $33.17 and its two-hundred day moving average price is $32.82. Radian Group Inc. has a 1 year low of $29.32 and a 1 year high of $37.86. The stock has a market capitalization of $4.55 billion, a P/E ratio of 8.62 and a beta of 0.71.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (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 analysts' expectations of $326.99 million. Radian Group had a net margin of 46.29% and a return on equity of 13.54%. Radian Group's revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. Analysts predict that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 2nd will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, June 2nd. Radian Group's dividend payout ratio (DPR) is currently 25.95%.

Radian Group announced that its board has approved a share repurchase program on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Howard Bernard Culang sold 8,773 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $33.37, for a total value of $292,755.01. Following the completion of the transaction, the director now owns 8,050 shares in the company, valued at $268,628.50. The trade was a 52.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward J. Hoffman sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $33.72, for a total transaction of $337,200.00. Following the transaction, the executive vice president now owns 201,586 shares in the company, valued at $6,797,479.92. This represents a 4.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,378 shares of company stock worth $2,224,414 in the last three months. Insiders own 2.16% of the company's stock.

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.