Radian Group Inc. (NYSE:RDN) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 678,628 shares of the insurance provider's stock after purchasing an additional 54,144 shares during the quarter. Bank of America Corp DE owned 0.46% of Radian Group worth $21,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDN. Norges Bank purchased a new stake in Radian Group in the fourth quarter valued at $73,693,000. First Trust Advisors LP raised its holdings in shares of Radian Group by 20.6% during the fourth quarter. First Trust Advisors LP now owns 10,766,237 shares of the insurance provider's stock valued at $341,505,000 after acquiring an additional 1,836,020 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Radian Group in the fourth quarter valued at approximately $9,564,000. Vest Financial LLC lifted its holdings in Radian Group by 35.4% in the 4th quarter. Vest Financial LLC now owns 1,092,054 shares of the insurance provider's stock valued at $34,640,000 after purchasing an additional 285,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Radian Group by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,094,163 shares of the insurance provider's stock worth $193,307,000 after buying an additional 248,423 shares in the last quarter. Institutional investors and hedge funds own 95.33% of the company's stock.

Radian Group Stock Down 1.1%

Shares of Radian Group stock traded down $0.38 during trading hours on Friday, reaching $33.28. 895,943 shares of the company were exchanged, compared to its average volume of 1,631,456. The firm has a market cap of $4.47 billion, a PE ratio of 8.47, a PEG ratio of 1.73 and a beta of 0.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.87. Radian Group Inc. has a 1 year low of $29.32 and a 1 year high of $37.86. The stock's fifty day moving average is $32.61 and its 200 day moving average is $32.91.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $318.11 million for the quarter, compared to the consensus estimate of $326.99 million. Radian Group had a return on equity of 13.96% and a net margin of 46.85%. Radian Group's revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. As a group, equities research analysts forecast that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 2nd will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.02 annualized dividend and a yield of 3.06%. Radian Group's dividend payout ratio (DPR) is 25.95%.

Radian Group announced that its board has authorized a stock repurchase program on Wednesday, May 21st that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 16.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RDN. UBS Group boosted their price objective on Radian Group from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Compass Point reaffirmed a "neutral" rating and issued a $37.00 price objective (up from $34.00) on shares of Radian Group in a research note on Thursday. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $38.00 target price (up from $37.00) on shares of Radian Group in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Radian Group currently has an average rating of "Hold" and a consensus target price of $36.83.

Insider Activity at Radian Group

In other Radian Group news, Director Gregory Serio sold 4,100 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $32.65, for a total value of $133,865.00. Following the sale, the director now directly owns 344 shares in the company, valued at $11,231.60. This trade represents a 92.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.01% of the stock is owned by corporate insiders.

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.