Corient Private Wealth LP Invests $1.10 Million in Radian Group Inc. $RDN

Key Points

• Corient Private Wealth initiated a $1.10 million position in Radian Group during the second quarter by purchasing 29,184 shares. Institutional investors collectively own 95.33% of the company, with several other major funds also taking new stakes.
• Radian Group reported quarterly revenue of $574.96 million, up 92.3% year over year and above estimates, but earnings per share of $1.14 fell short of the $1.34 consensus forecast.
• The company declared a quarterly dividend of $0.255 per share, equivalent to a 2.8% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $42.17, compared with a recent share price of $36.59.

Corient Private Wealth LP purchased a new stake in Radian Group Inc. (NYSE:RDN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,184 shares of the insurance provider's stock, valued at approximately $1,099,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Radian Group in the 2nd quarter worth approximately $728,072,000. Donald Smith & CO. Inc. acquired a new stake in Radian Group during the 2nd quarter valued at approximately $163,104,000. Caisse de depot et placement du Quebec acquired a new stake in Radian Group during the second quarter valued at $89,334,000. Norges Bank purchased a new stake in shares of Radian Group during the fourth quarter worth approximately $77,364,000. Finally, Bruni J V & Co. Co. acquired a new stake in Radian Group during the 2nd quarter worth $59,355,376. Hedge funds and other institutional investors own 95.33% of the company's stock.

Radian Group Price Performance

Shares of RDN opened at $36.59 on Friday. The firm's 50-day simple moving average is $37.63 and its two-hundred day simple moving average is $35.73. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The stock has a market cap of $4.84 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.70. 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 released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). The business had revenue of $574.96 million for the quarter, compared to analysts' expectations of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. Radian Group's revenue for the quarter was up 92.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. Analysts anticipate that Radian Group Inc. will post 4.86 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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

About Radian Group

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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