Citigroup Inc. Sells 74,780 Shares of Radian Group Inc. $RDN

Key Points

• Citigroup trimmed its stake in Radian by 49.9% in Q3, selling 74,780 shares and leaving it with 75,016 shares worth about $2.72 million (≈0.06% of the company).
• Radian recently beat expectations with $1.16 EPS (vs. $1.11 expected) on roughly $300.5 million in revenue, and announced a quarterly dividend of $0.255 (annualized $1.02) for a ~3.0% yield.
• Institutional ownership is very high at 95.33%, and analysts give Radian a consensus "Moderate Buy" with an average price target of about $40.80 (market cap ≈ $4.62B, P/E ~8.18).

Citigroup Inc. trimmed its stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 49.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,016 shares of the insurance provider's stock after selling 74,780 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Radian Group worth $2,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Radian Group by 66.7% during the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 318 shares during the period. Smartleaf Asset Management LLC raised its holdings in Radian Group by 14.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider's stock worth $97,000 after purchasing an additional 344 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Radian Group by 14.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock worth $91,000 after purchasing an additional 357 shares during the period. Amalgamated Bank lifted its position in shares of Radian Group by 1.0% in the 3rd quarter. Amalgamated Bank now owns 39,233 shares of the insurance provider's stock worth $1,421,000 after purchasing an additional 391 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Radian Group by 8.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,740 shares of the insurance provider's stock valued at $208,000 after purchasing an additional 433 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors.

Radian Group Price Performance

Shares of NYSE RDN opened at $33.93 on Friday. The firm has a market capitalization of $4.62 billion, a P/E ratio of 8.18, a P/E/G ratio of 1.85 and a beta of 0.80. The firm's 50-day moving average price is $33.98 and its 200-day moving average price is $34.69. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.23. Radian Group Inc. has a 1-year low of $29.32 and a 1-year high of $38.84.

Radian Group (NYSE:RDN - Get Free Report) last issued its earnings results on Wednesday, February 18th. The insurance provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. Radian Group had a return on equity of 13.07% and a net margin of 46.99%.The company had revenue of $300.51 million during the quarter, compared to the consensus estimate of $300.45 million. During the same period last year, the business posted $1.09 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, February 23rd will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, February 23rd. Radian Group's dividend payout ratio is currently 24.58%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded Radian Group from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $41.00 to $42.00 in a report on Wednesday, February 11th. Barclays set a $40.00 price objective on Radian Group in a research note on Monday, February 23rd. Zacks Research upgraded Radian Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 20th. Roth Mkm reaffirmed a "buy" rating and set a $45.00 target price on shares of Radian Group in a research note on Friday, January 2nd. Finally, Weiss Ratings downgraded Radian Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Radian Group has an average rating of "Moderate Buy" and an average price target of $40.80.

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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