Eisler Capital Management Ltd. Acquires Shares of 8,894 Radian Group Inc. $RDN

Key Points

• Eisler Capital Management Ltd. has made a new investment of $294,000 in Radian Group Inc., purchasing 8,894 shares during the first quarter.
• Radian Group reported $1.01 earnings per share, exceeding analysts' estimates of $0.93, while also announcing a $750 million stock repurchase program to buy back up to 16.9% of outstanding shares.
• The company declared a quarterly dividend of $0.255 per share, representing a yield of 2.9%, with the ex-dividend date set for August 25th.

Eisler Capital Management Ltd. purchased a new position in shares of Radian Group Inc. (NYSE:RDN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,894 shares of the insurance provider's stock, valued at approximately $294,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in Radian Group by 76.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 121,400 shares of the insurance provider's stock valued at $4,015,000 after acquiring an additional 52,571 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of 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 during the period. Virtus Advisers LLC acquired a new position in shares of Radian Group in the 1st quarter valued at $88,000. Comerica Bank boosted its position in shares of Radian Group by 2.5% in the 1st quarter. Comerica Bank now owns 157,006 shares of the insurance provider's stock worth $5,192,000 after purchasing an additional 3,808 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Radian Group during the first quarter worth $844,000. 95.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Radian Group news, Director Lisa Mumford sold 2,500 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.45, for a total transaction of $83,625.00. Following the sale, the director directly owned 22,329 shares of the company's stock, valued at $746,905.05. The trade was a 10.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Eric Ray sold 30,000 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.30, for a total transaction of $999,000.00. Following the transaction, the executive vice president owned 13,957 shares of the company's stock, valued at approximately $464,768.10. This represents a 68.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,378 shares of company stock valued at $2,944,414 in the last quarter. Company insiders own 2.16% of the company's stock.

Radian Group Stock Down 1.0%

Shares of RDN traded down $0.37 during midday trading on Tuesday, hitting $34.51. The stock had a trading volume of 260,508 shares, compared to its average volume of 1,423,416. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 8.69 and a beta of 0.75. The company has a 50 day simple moving average of $34.61 and a two-hundred day simple moving average of $33.46. Radian Group Inc. has a twelve month low of $29.32 and a twelve month high of $36.99.

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

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, August 25th. This represents a $1.02 annualized dividend and a yield of 3.0%. Radian Group's dividend payout ratio is presently 25.69%.

Radian Group declared that its board has authorized a share buyback plan on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to purchase up to 16.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Radian Group Company 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.