Assenagon Asset Management S.A. Sells 314,473 Shares of Radian Group Inc. $RDN

Key Points

• Assenagon Asset Management cut its Radian Group stake by 57.1% in Q1, selling 314,473 shares and leaving it with 236,161 shares worth about $7.8 million.
• Insiders also sold shares in recent months, including directors Noel Joseph Spiegel and Margaret Anne Leyden; overall insider sales totaled 75,516 shares valued at about $2.75 million over the last 90 days.
• Radian Group reported strong results for its latest quarter, beating earnings and revenue estimates, while analysts remain cautiously positive with a consensus rating of Moderate Buy and a price target around $43.17.

Assenagon Asset Management S.A. lessened its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 57.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,161 shares of the insurance provider's stock after selling 314,473 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.18% of Radian Group worth $7,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RDN. Corient Private Wealth LLC boosted its position in Radian Group by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 21,249 shares of the insurance provider's stock worth $765,000 after purchasing an additional 647 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Radian Group by 23.1% during the 4th quarter. Hsbc Holdings PLC now owns 90,154 shares of the insurance provider's stock worth $3,256,000 after buying an additional 16,895 shares during the last quarter. State of Tennessee Department of Treasury lifted its stake in shares of Radian Group by 37.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 57,009 shares of the insurance provider's stock worth $1,876,000 after buying an additional 15,438 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Radian Group by 172.6% during the 4th quarter. Mackenzie Financial Corp now owns 26,647 shares of the insurance provider's stock worth $965,000 after buying an additional 16,871 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Radian Group by 64.3% during the 4th quarter. NewEdge Advisors LLC now owns 17,564 shares of the insurance provider's stock worth $632,000 after buying an additional 6,876 shares during the period. Institutional investors own 95.33% of the company's stock.

Insider Buying and Selling

In related news, Director Noel Joseph Spiegel sold 4,834 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $36.19, for a total value of $174,942.46. Following the transaction, the director owned 20,008 shares in the company, 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, Director Margaret Anne Leyden sold 2,070 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.59, for a total transaction of $71,601.30. Following the sale, the director directly owned 6,864 shares of the company's stock, valued at $237,425.76. This represents a 23.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 75,516 shares of company stock valued at $2,747,576 in the last ninety days. Insiders own 2.03% of the company's stock.

Wall Street Analysts Forecast Growth

RDN has been the topic of several research analyst reports. Bank of America raised shares of Radian Group from an "underperform" rating to a "buy" rating and increased their price target for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their price objective on Radian Group from $43.00 to $46.00 and gave the stock an "outperform" rating in a report on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Radian Group in a research report on Tuesday, June 16th. Royal Bank Of Canada assumed coverage on Radian Group in a research note on Friday, May 22nd. They set an "outperform" rating and a $47.00 target price on the stock. Finally, Zacks Research cut Radian Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Radian Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.

Radian Group Stock Down 0.0%

NYSE RDN opened at $37.49 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16. Radian Group Inc. has a 1-year low of $31.50 and a 1-year high of $38.84. The company has a 50 day moving average of $35.66 and a 200-day moving average of $34.68. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.94 and a beta of 0.73.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The business had revenue of $466.34 million during the quarter, compared to analysts' expectations of $377.83 million. During the same period in the previous year, the company posted $0.99 earnings per share. The firm's revenue for the quarter was up 46.6% compared to the same quarter last year. On average, equities research analysts expect that Radian Group Inc. will post 5.17 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, June 2nd. Radian Group's dividend payout ratio is 25.12%.

Radian Group Company Profile

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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