Assenagon Asset Management S.A. Sells 137,223 Shares of Radian Group Inc. $RDN

Key Points

• Assenagon Asset Management cut its Radian Group stake by 58.1% in the second quarter, selling 137,223 shares and retaining 98,938 shares valued at approximately $3.7 million.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $42.17.
• Radian reported quarterly revenue of $574.96 million, up 92.3% year over year, though EPS of $1.14 fell short of the $1.34 estimate. The company declared a quarterly dividend of $0.255 per share, equivalent to a 2.8% annual yield.

Assenagon Asset Management S.A. lowered its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 58.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,938 shares of the insurance provider's stock after selling 137,223 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of Radian Group worth $3,727,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RDN. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 purchasing an additional 476 shares during the period. Geneos Wealth Management Inc. increased its stake 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 raised its holdings in Radian Group by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider's stock valued at $33,000 after buying an additional 360 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Radian Group during the 3rd quarter valued at $34,000. Finally, Global Retirement Partners LLC boosted its position in Radian Group by 1,002.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,058 shares of the insurance provider's stock valued at $38,000 after buying an additional 962 shares during the period. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RDN shares. Keefe, Bruyette & Woods decreased their price objective on shares of Radian Group from $46.00 to $44.00 and set an "outperform" rating on the stock in a research report on Tuesday. Wall Street Zen cut Radian Group from a "buy" rating to a "hold" rating in a research note on Sunday. Zacks Research downgraded Radian Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 20th. Bank of America raised Radian Group from an "underperform" rating to a "buy" rating and upped their price target for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada started coverage on Radian Group in a report on Friday, May 22nd. They issued an "outperform" rating and a $47.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.17.

Insider Buying and Selling at Radian Group

In other Radian Group news, Director Noel Joseph Spiegel sold 4,834 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total transaction of $174,942.46. Following the completion of the transaction, the director owned 20,008 shares of the company's stock, valued at approximately $724,089.52. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael S. Weinbach bought 120,487 shares of the stock in a transaction dated Monday, June 1st. The shares were acquired at an average price of $33.89 per share, with a total value of $4,083,304.43. Following the completion of the acquisition, the chief executive officer directly owned 120,487 shares of the company's stock, valued at approximately $4,083,304.43. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 15,517 shares of company stock valued at $557,610. Insiders own 2.03% of the company's stock.

Radian Group Stock Performance

RDN opened at $36.36 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.41 and a debt-to-equity ratio of 0.14. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $41.05. The stock has a market cap of $4.81 billion, a PE ratio of 9.35, a PEG ratio of 0.87 and a beta of 0.72. The business has a 50 day moving average of $37.07 and a 200-day moving average of $35.34.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.20). Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The firm had revenue of $574.96 million during the quarter, compared to the consensus estimate of $556.55 million. During the same quarter last year, the company posted $1.01 EPS. Radian Group's revenue for the quarter was up 92.3% compared to the same quarter last year. Equities research analysts predict that Radian Group Inc. will post 4.93 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 24th. Radian Group's dividend payout ratio (DPR) is 26.22%.

About Radian Group

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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