Assenagon Asset Management S.A. Sells 59,448 Shares of Radian Group Inc. $RDN

Key Points

• Assenagon Asset Management reduced its Radian Group stake by 60.1% in the third quarter, selling 59,448 shares and retaining 39,490 shares valued at approximately $1.21 million.
• Radian Group reported quarterly revenue of $574.96 million, up 92.3% year over year, but its $1.14 EPS missed analyst expectations of $1.34. Analysts expect full-year EPS of $4.85.
• The company maintains a quarterly dividend of $0.255 per share, equal to an annualized $1.02 payout and a 2.9% yield. Analysts collectively rate the stock “Moderate Buy,” with a consensus price target of $43.14 versus a recent price of $34.73.

Assenagon Asset Management S.A. trimmed its position in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 60.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,490 shares of the insurance provider's stock after selling 59,448 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Radian Group were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Radian Group in the second quarter worth $728,072,000. Donald Smith & CO. Inc. bought a new position in shares of Radian Group in the second quarter valued at about $163,104,000. Caisse de depot et placement du Quebec bought a new position in shares of Radian Group in the second quarter valued at about $89,334,000. Bruni J V & Co. Co. bought a new position in shares of Radian Group in the second quarter valued at about $59,355,376. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Radian Group during the 2nd quarter worth about $45,553,000. 95.33% of the stock is owned by institutional investors.

Radian Group Stock Performance

Shares of NYSE:RDN opened at $34.73 on Friday. The stock has a market capitalization of $4.59 billion, a P/E ratio of 7.20, a P/E/G ratio of 0.85 and a beta of 0.71. Radian Group Inc. has a 1-year low of $30.53 and a 1-year high of $41.05. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $34.98 and a two-hundred day moving average price of $35.94.

Radian Group (NYSE:RDN - Get Free Report) last released its earnings results 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). The business had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The business's revenue for the quarter was up 92.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. Equities analysts predict that Radian Group Inc. will post 4.85 earnings per share for the current year.

Radian Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were issued a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 24th. Radian Group's payout ratio is currently 26.22%.

Insider Activity at Radian Group

In other Radian Group news, EVP Meghan Bartholomew sold 7,812 shares of the company's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $35.94, for a total transaction of $280,763.28. Following the completion of the sale, the executive vice president owned 39,203 shares in the company, valued at approximately $1,408,955.82. The trade was a 16.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.03% of the company's stock.

Analyst Upgrades and Downgrades

RDN has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Radian Group from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, October 5th. Wall Street Zen downgraded shares of Radian Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. BTIG Research started coverage on shares of Radian Group in a research report on Tuesday, September 22nd. They set a "buy" rating and a $48.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Radian Group from $46.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of Radian Group from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.14.

Radian Group Company Profile

Radian Group Inc NYSE: RDN is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.

Radian's mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.

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