Danske Bank A S Invests $12 Million in Radian Group Inc. $RDN

Key Points

• Danske Bank initiated a roughly $12 million position in Radian Group, purchasing 318,500 shares and owning approximately 0.24% of the company. Institutional investors and hedge funds collectively own 95.33% of RDN.
• Analyst sentiment remains generally positive, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $42.17. Recent targets range from $35 to $47.
• Radian reported quarterly revenue of $574.96 million, up 92.3% year over year, but earnings of $1.14 per share missed estimates by $0.20. The company announced a quarterly dividend of $0.255 per share, representing a 2.8% annualized yield.

Danske Bank A S purchased a new position in shares of Radian Group Inc. (NYSE:RDN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 318,500 shares of the insurance provider's stock, valued at approximately $11,998,000. Danske Bank A S owned about 0.24% of Radian Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of RDN. Jones Financial Companies Lllp raised its stake in Radian Group by 14.8% during the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock valued at $91,000 after buying an additional 357 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Radian Group by 191.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock worth $29,000 after acquiring an additional 572 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Radian Group by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider's stock worth $67,000 after acquiring an additional 901 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Radian Group in the 2nd quarter valued at approximately $239,000. Finally, Marshall Wace LLP bought a new stake in shares of Radian Group in the 2nd quarter valued at approximately $452,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Radian Group news, Chairman Howard Bernard Culang sold 3,612 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $36.00, for a total value of $130,032.00. Following the sale, the chairman owned 8,050 shares in the company, valued at approximately $289,800. This trade represents a 30.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael S. Weinbach purchased 49,513 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $34.04 per share, for a total transaction of $1,685,422.52. Following the acquisition, the chief executive officer owned 170,000 shares of the company's stock, valued at approximately $5,786,800. The trade was a 41.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 15,517 shares of company stock worth $557,610 over the last ninety days. 2.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

RDN has been the topic of several research analyst reports. Weiss Ratings upgraded Radian Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. Barclays lowered their target price on shares of Radian Group from $39.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, August 10th. Royal Bank Of Canada began coverage on shares of Radian Group in a report on Friday, May 22nd. They set an "outperform" rating and a $47.00 target price on the stock. 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 report on Tuesday, August 11th. Finally, Bank of America raised shares of Radian Group from an "underperform" rating to a "buy" rating and lifted their price target for the company from $35.00 to $43.00 in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.17.

Radian Group Stock Performance

RDN stock opened at $36.64 on Friday. Radian Group Inc. has a 1 year low of $31.50 and a 1 year high of $41.05. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60. The stock's fifty day moving average is $37.41 and its two-hundred day moving average is $35.50.

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 firm had revenue of $574.96 million for the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The firm's revenue was up 92.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. On average, research analysts predict that Radian Group Inc. will post 4.86 EPS for the current year.

Radian Group Dividend Announcement

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

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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