Brandywine Global Investment Management LLC Reduces Position in Radian Group Inc. $RDN

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in Radian Group Inc. by 3.7%, now holding approximately 367,807 shares valued at $12.16 million.
• Radian Group recently announced a quarterly dividend of $0.255 per share, providing an annualized yield of 3.0%, and will execute a share buyback program worth $750 million.
• Analyst ratings for Radian Group have varied, with UBS setting a neutral rating and a price target increase to $38.00, while Keefe, Bruyette & Woods and Compass Point downgraded the stock to hold ratings.

Brandywine Global Investment Management LLC lessened its position in Radian Group Inc. (NYSE:RDN - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,807 shares of the insurance provider's stock after selling 14,328 shares during the period. Brandywine Global Investment Management LLC owned 0.27% of Radian Group worth $12,163,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RDN. Covestor Ltd grew its holdings in shares of Radian Group by 42.6% during the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock worth $64,000 after purchasing an additional 576 shares during the last quarter. US Bancorp DE raised its holdings in Radian Group by 22.7% in the 1st quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock valued at $131,000 after buying an additional 735 shares during the last quarter. GAMMA Investing LLC boosted its position in Radian Group by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 7,363 shares of the insurance provider's stock worth $243,000 after buying an additional 900 shares during the period. Quantinno Capital Management LP boosted its position in Radian Group by 9.8% during the 4th quarter. Quantinno Capital Management LP now owns 8,629 shares of the insurance provider's stock worth $274,000 after buying an additional 768 shares during the period. Finally, Ground Swell Capital LLC bought a new stake in Radian Group during the 1st quarter worth approximately $290,000. 95.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Radian Group

In other Radian Group news, EVP Eric Ray sold 30,000 shares of the business's stock in a transaction that occurred on 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard Bernard Culang sold 8,773 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $33.37, for a total value of $292,755.01. Following the completion of the sale, the director owned 8,050 shares of the company's stock, valued at $268,628.50. The trade was a 52.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,378 shares of company stock valued at $2,944,414 over the last 90 days. Insiders own 2.01% of the company's stock.

Radian Group Stock Up 2.3%

Shares of NYSE RDN traded up $0.7850 during mid-day trading on Friday, reaching $35.4350. 189,264 shares of the company's stock traded hands, compared to its average volume of 1,447,623. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.68 and a quick ratio of 1.68. The business has a 50-day simple moving average of $34.59 and a 200 day simple moving average of $33.37. The stock has a market cap of $4.80 billion, a P/E ratio of 8.94 and a beta of 0.74. Radian Group Inc. has a 1-year low of $29.32 and a 1-year high of $36.99.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The business had revenue of $318.00 million for the quarter, compared to analysts' expectations of $321.97 million. During the same quarter last year, the firm earned $0.98 EPS. The firm's revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group announced that its board has authorized a share repurchase plan on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Radian Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, August 25th. Radian Group's dividend payout ratio (DPR) is 25.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RDN shares. Compass Point downgraded shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. UBS Group reaffirmed a "neutral" rating and set a $38.00 target price (up from $36.00) on shares of Radian Group in a research report on Monday, July 14th. Keefe, Bruyette & Woods lowered Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price target on the stock. in a research report on Monday, July 7th. Finally, Barclays raised their price objective on Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Radian Group presently has an average rating of "Hold" and a consensus target price of $37.00.

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.