Cibc World Market Inc. Invests $1.85 Million in Radian Group Inc. $RDN

Key Points

• Cibc World Market Inc. acquired 49,203 Radian Group shares worth approximately $1.85 million during the second quarter. Institutional investors collectively own 95.33% of Radian’s stock.
• Analyst sentiment remains moderately positive, with five Buy ratings and three Holds and an average price target of $42.17. However, recent price targets were lowered by Keefe, Bruyette & Woods and Barclays.
• Radian reported quarterly EPS of $1.14, below the $1.34 consensus estimate, while revenue rose 92.3% year over year to $574.96 million. The company also declared a quarterly dividend of $0.255 per share, representing a 2.8% yield.

Cibc World Market Inc. acquired a new position in Radian Group Inc. (NYSE:RDN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,203 shares of the insurance provider's stock, valued at approximately $1,853,000.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Radian Group in the 2nd quarter valued at $728,072,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Radian Group by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider's stock worth $214,481,000 after buying an additional 63,437 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Radian Group by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider's stock worth $196,773,000 after buying an additional 230,912 shares during the last quarter. Donald Smith & CO. Inc. bought a new position in shares of Radian Group in the 2nd quarter valued at about $163,104,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Radian Group by 16.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider's stock valued at $78,769,000 after acquiring an additional 315,575 shares during the last quarter. Institutional investors own 95.33% of the company's stock.

Insider Buying and Selling at Radian Group

In other Radian Group news, CEO Michael S. Weinbach bought 120,487 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $33.89 per share, with a total value of $4,083,304.43. Following the acquisition, the chief executive officer owned 120,487 shares of the company's stock, valued at $4,083,304.43. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RDN. Weiss Ratings upgraded Radian Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their price target on Radian Group from $46.00 to $44.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. Barclays lowered their price target on Radian Group from $39.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday, August 10th. Wall Street Zen downgraded Radian Group from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Finally, Royal Bank Of Canada assumed coverage on shares of Radian Group in a research note on Friday, May 22nd. They issued an "outperform" rating and a $47.00 target price for the company. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.17.

Radian Group Trading Down 0.8%

Shares of NYSE:RDN opened at $36.51 on Friday. Radian Group Inc. has a 52-week low of $31.50 and a 52-week high of $41.05. The company has a market capitalization of $4.83 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 0.89 and a beta of 0.72. The company has a 50-day simple moving average of $37.60 and a 200 day simple moving average of $35.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share 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 return on equity of 13.65% and a net margin of 32.60%.Radian Group's quarterly revenue was up 92.3% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. Sell-side analysts forecast that Radian Group Inc. will post 4.86 earnings per share for the current year.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, August 24th. Radian Group's payout ratio is currently 26.22%.

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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