Bank of New York Mellon Corp Has $44.33 Million Position in Radian Group Inc. (NYSE:RDN)

Bank of New York Mellon Corp reduced its holdings in Radian Group Inc. (NYSE:RDN - Free Report) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,340,596 shares of the insurance provider's stock after selling 167,505 shares during the period. Bank of New York Mellon Corp owned 0.95% of Radian Group worth $44,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its stake in Radian Group by 16.4% in the 1st quarter. Teacher Retirement System of Texas now owns 39,532 shares of the insurance provider's stock valued at $1,307,000 after buying an additional 5,570 shares during the last quarter. Monument Capital Management increased its stake in shares of Radian Group by 6.4% during the 1st quarter. Monument Capital Management now owns 83,810 shares of the insurance provider's stock worth $2,772,000 after purchasing an additional 5,026 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Radian Group by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,780 shares of the insurance provider's stock worth $489,000 after purchasing an additional 5,182 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Radian Group by 11.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,369 shares of the insurance provider's stock worth $3,983,000 after purchasing an additional 12,498 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Radian Group during the 1st quarter worth about $1,050,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RDN shares. Compass Point lowered shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Keefe, Bruyette & Woods lowered shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective on the stock. in a research note on Monday, July 7th. UBS Group boosted their price objective on shares of Radian Group from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Barclays lifted their target price on shares of Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Radian Group currently has an average rating of "Hold" and a consensus target price of $37.17.

Radian Group Stock Performance

Shares of RDN stock opened at $33.80 on Monday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.44 and a current ratio of 3.44. The company has a 50-day simple moving average of $34.50 and a 200 day simple moving average of $33.11. Radian Group Inc. has a 52 week low of $29.32 and a 52 week high of $37.86.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $318.11 million during the quarter, compared to the consensus estimate of $326.99 million. Radian Group had a net margin of 46.29% and a return on equity of 13.54%. The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, sell-side analysts predict that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Monday, June 2nd. Radian Group's dividend payout ratio is currently 25.95%.

Radian Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 21st that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the insurance provider to purchase up to 16.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Transactions at Radian Group

In other Radian Group news, EVP Eric Ray sold 30,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.30, for a total value of $999,000.00. Following the completion of the sale, the executive vice president owned 13,957 shares of the company's stock, valued at $464,768.10. The trade was a 68.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Howard Bernard Culang sold 8,773 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.37, for a total transaction of $292,755.01. Following the completion of the sale, the director directly owned 8,050 shares of the company's stock, valued at $268,628.50. This represents a 52.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,378 shares of company stock worth $2,944,414. Company insiders own 2.16% of the company's stock.

About Radian Group

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.

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