Federated Hermes Inc. Acquires 11,648 Shares of Radian Group Inc. (NYSE:RDN)

Federated Hermes Inc. grew its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 11.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,772 shares of the insurance provider's stock after acquiring an additional 11,648 shares during the quarter. Federated Hermes Inc. owned 0.08% of Radian Group worth $3,663,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Royce & Associates LP raised its position in shares of Radian Group by 1.5% in the 1st quarter. Royce & Associates LP now owns 92,941 shares of the insurance provider's stock worth $3,074,000 after purchasing an additional 1,338 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Radian Group by 4.1% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 142,823 shares of the insurance provider's stock valued at $4,723,000 after purchasing an additional 5,685 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Radian Group in the first quarter worth about $669,000. Denali Advisors LLC bought a new position in shares of Radian Group in the first quarter worth approximately $2,757,000. Finally, Private Advisor Group LLC grew its holdings in shares of Radian Group by 2.0% during the first quarter. Private Advisor Group LLC now owns 45,563 shares of the insurance provider's stock valued at $1,507,000 after buying an additional 893 shares during the last quarter. 95.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RDN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective for the company. in a report on Monday, July 7th. Compass Point cut Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Barclays increased their price objective on Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, UBS Group reissued a "neutral" rating and issued a $38.00 target price (up previously from $36.00) on shares of Radian Group in a research report on Monday, July 14th.

Radian Group Stock Performance

NYSE:RDN traded up $0.81 during trading hours on Friday, reaching $34.10. The company had a trading volume of 200,707 shares, compared to its average volume of 1,500,464. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 8.58 and a beta of 0.74. The company has a current ratio of 1.68, a quick ratio of 3.44 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average price is $34.40 and its 200-day moving average price is $33.31. Radian Group Inc. has a 52 week low of $29.32 and a 52 week high of $36.99.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $1.01 EPS for the quarter, topping 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%. Radian Group's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, analysts forecast that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 2nd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, June 2nd. Radian Group's dividend payout ratio is 25.69%.

Radian Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 21st that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 16.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Radian Group

In related news, Director Howard Bernard Culang sold 8,773 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $33.37, for a total transaction of $292,755.01. Following the completion of the sale, the director directly owned 8,050 shares in the company, valued at approximately $268,628.50. The trade was a 52.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Eric Ray sold 30,000 shares of Radian Group stock in a transaction on 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 in the company, valued at $464,768.10. This represents a 68.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,378 shares of company stock worth $2,944,414. 2.01% of the stock is currently owned by corporate insiders.

About Radian Group

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.