Grantham Mayo Van Otterloo & Co. LLC Decreases Stake in Radian Group Inc. $RDN

Key Points

• Grantham Mayo Van Otterloo & Co. LLC reduced its Radian stake by 9.7% in Q3, selling 34,669 shares and ending with 324,361 shares (≈0.24% of the company) valued at about $11.75 million; overall institutional ownership of RDN is 95.33%.
• Radian beat Q earnings expectations with $1.16 EPS (vs. $1.11 est.) on $300.51 million in revenue, and announced a quarterly dividend of $0.255 per share (annualized $1.02, ~3.0% yield), ex-dividend Feb 23 and payable Mar 10.
• The stock trades around $33.55 with a 1‑year range of $29.32–$38.84, a market cap of $4.57 billion and a PE of 8.08, and carries a consensus analyst rating of Moderate Buy with an average target of $40.80.

Grantham Mayo Van Otterloo & Co. LLC decreased its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 324,361 shares of the insurance provider's stock after selling 34,669 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.24% of Radian Group worth $11,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RDN. EverSource Wealth Advisors LLC grew its stake in Radian Group by 16.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,170 shares of the insurance provider's stock valued at $79,000 after acquiring an additional 310 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Radian Group by 66.7% during the 3rd quarter. Bessemer Group Inc. now owns 795 shares of the insurance provider's stock worth $29,000 after purchasing an additional 318 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Radian Group by 14.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,696 shares of the insurance provider's stock valued at $97,000 after purchasing an additional 344 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of 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 purchasing an additional 357 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Radian Group by 1.0% during the third quarter. Amalgamated Bank now owns 39,233 shares of the insurance provider's stock worth $1,421,000 after buying an additional 391 shares in the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

Radian Group Trading Down 1.0%

Shares of RDN stock opened at $33.55 on Tuesday. Radian Group Inc. has a 1-year low of $29.32 and a 1-year high of $38.84. The firm has a market cap of $4.57 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. The company has a 50-day moving average of $33.93 and a two-hundred day moving average of $34.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.40 and a quick ratio of 3.40.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The insurance provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. The firm had revenue of $300.51 million for the quarter, compared to analyst estimates of $300.45 million. Radian Group had a net margin of 46.99% and a return on equity of 13.07%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 EPS. On average, analysts predict that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, February 23rd. Radian Group's dividend payout ratio is 24.58%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RDN shares. Weiss Ratings downgraded Radian Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, January 13th. Roth Mkm restated a "buy" rating and set a $45.00 price objective on shares of Radian Group in a research report on Friday, January 2nd. Zacks Research raised shares of Radian Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods raised shares of Radian Group from a "market perform" rating to an "outperform" rating and increased their price target for the company from $41.00 to $42.00 in a research note on Wednesday, February 11th. Finally, Barclays set a $40.00 price target on shares of Radian Group in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.