Freestone Grove Partners LP Acquires Shares of 28,798 Radian Group Inc. $RDN

Key Points

• Freestone Grove Partners acquired 28,798 shares of Radian Group during the second quarter, valued at approximately $1.1 million. Institutional investors collectively own 95.33% of the company.
• Radian Group reported quarterly revenue of $574.96 million, up 92.3% year over year and above estimates, but earnings of $1.14 per share missed consensus by $0.20.
• The company declared a quarterly dividend of $0.255 per share, equivalent to an annualized $1.02 payout and a 2.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $42.17.

Freestone Grove Partners LP acquired a new position in shares of Radian Group Inc. (NYSE:RDN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,798 shares of the insurance provider's stock, valued at approximately $1,085,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of Radian Group by 0.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 33,365 shares of the insurance provider's stock valued at $1,208,000 after buying an additional 288 shares during the period. Hantz Financial Services Inc. boosted its holdings in Radian Group by 26.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,553 shares of the insurance provider's stock worth $56,000 after acquiring an additional 329 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Radian Group by 14.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider's stock worth $97,000 after acquiring an additional 344 shares during the period. HighTower Advisors LLC grew its position in Radian Group by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 6,060 shares of the insurance provider's stock valued at $218,000 after acquiring an additional 349 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Radian Group by 14.8% in the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock valued at $91,000 after acquiring an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company's stock.

Radian Group Stock Performance

Shares of RDN opened at $36.52 on Friday. The business's 50 day moving average is $37.64 and its two-hundred day moving average is $35.63. Radian Group Inc. has a 52-week low of $31.50 and a 52-week high of $41.05. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.88 and a beta of 0.72. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14.

Radian Group (NYSE:RDN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.34 by ($0.20). The company had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The firm's quarterly revenue was up 92.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. Analysts forecast that Radian Group Inc. will post 4.86 EPS for the current fiscal year.

Radian Group Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Michael S. Weinbach acquired 120,487 shares of the firm's stock in a transaction on Monday, June 1st. The stock was bought at an average cost of $33.89 per share, with a total value of $4,083,304.43. Following the acquisition, the chief executive officer directly owned 120,487 shares in the company, valued at approximately $4,083,304.43. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on RDN. Wall Street Zen cut shares of Radian Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Keefe, Bruyette & Woods lowered their price target on shares of Radian Group from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Barclays dropped their price target on shares of Radian Group from $39.00 to $35.00 and set an "equal weight" rating on the stock 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 issued an "outperform" rating and a $47.00 price objective on the stock. Finally, 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. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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