Cubist Systematic Strategies LLC Takes Position in Radian Group Inc. $RDN

Key Points

• Cubist Systematic Strategies LLC acquired 99,518 shares of Radian Group Inc., valued at approximately $3.29 million, representing about 0.07% of the company.
• Radian Group announced a quarterly dividend of $0.255 per share, with an annualized dividend yield of 2.9% and a payout ratio of 25.69%.
• Institutional investors and hedge funds collectively own 95.33% of Radian Group's stock, indicating strong institutional interest in the company.

Cubist Systematic Strategies LLC acquired a new stake in Radian Group Inc. (NYSE:RDN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 99,518 shares of the insurance provider's stock, valued at approximately $3,291,000. Cubist Systematic Strategies LLC owned about 0.07% of Radian Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Radian Group by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,340,962 shares of the insurance provider's stock valued at $209,696,000 after purchasing an additional 246,799 shares during the period. American Century Companies Inc. lifted its holdings in shares of Radian Group by 9.2% in the 1st quarter. American Century Companies Inc. now owns 3,658,250 shares of the insurance provider's stock valued at $120,978,000 after buying an additional 306,889 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Radian Group by 5.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,569,410 shares of the insurance provider's stock valued at $51,902,000 after buying an additional 79,159 shares during the period. Jane Street Group LLC increased its stake in Radian Group by 11,446.4% in the 1st quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider's stock valued at $43,339,000 after purchasing an additional 1,299,167 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Radian Group in the 1st quarter valued at approximately $40,749,000. 95.33% of the stock is owned by institutional investors and hedge funds.

Radian Group Stock Down 0.0%

Shares of Radian Group stock opened at $35.36 on Friday. The firm has a market cap of $4.79 billion, a P/E ratio of 8.91 and a beta of 0.75. The business has a 50-day moving average price of $34.53 and a 200 day moving average price of $33.52. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $36.99. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.54.

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

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.02 annualized dividend and a dividend yield of 2.9%. Radian Group's dividend payout ratio is 25.69%.

Radian Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 21st that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 16.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity

In other news, EVP Edward J. Hoffman sold 20,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $36.00, for a total transaction of $720,000.00. Following the completion of the transaction, the executive vice president directly owned 161,586 shares in the company, valued at approximately $5,817,096. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.01% of the company's stock.

Radian Group Profile

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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