Great Lakes Advisors LLC Has $5.16 Million Stake in Radian Group Inc. $RDN

Key Points

• Great Lakes Advisors LLC reduced its stake in Radian Group Inc. by 9.7% to approximately $5.16 million, owning 155,942 shares after selling 16,690 shares during the first quarter.
• The average rating for Radian Group from analysts is "Hold", with a consensus target price increased to $37.00, while UBS Group set a price objective of $38.00.
• Radian Group recently announced a quarterly dividend of $0.255 per share and initiated a stock repurchase plan allowing for up to $750 million in buybacks, indicating confidence in its stock valuation.

Great Lakes Advisors LLC trimmed its position in Radian Group Inc. (NYSE:RDN - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,942 shares of the insurance provider's stock after selling 16,690 shares during the quarter. Great Lakes Advisors LLC owned 0.12% of Radian Group worth $5,157,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Caxton Associates LLP acquired a new position in shares of Radian Group in the first quarter valued at $2,451,000. Jones Financial Companies Lllp raised its stake 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 in the last quarter. Millennium Management LLC acquired a new position in shares of Radian Group in the first quarter valued at $27,282,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Radian Group by 15.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 160,319 shares of the insurance provider's stock valued at $5,302,000 after purchasing an additional 21,770 shares in the last quarter. Finally, Interval Partners LP acquired a new position in Radian Group during the first quarter worth $4,222,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Radian Group

In other news, EVP Edward J. Hoffman sold 20,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $36.00, for a total transaction of $720,000.00. Following the sale, the executive vice president owned 161,586 shares in the company, valued at approximately $5,817,096. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.16% of the company's stock.

Radian Group Price Performance

Shares of RDN stock opened at $34.81 on Wednesday. The stock's fifty day moving average is $34.48 and its 200-day moving average is $33.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $4.71 billion, a PE ratio of 8.77 and a beta of 0.75. 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 announced its earnings results 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 for the quarter, compared to analysts' expectations of $321.97 million. Radian Group had a return on equity of 13.25% and a net margin of 45.62%.The business's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts expect that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, August 25th. Radian Group's dividend payout ratio is presently 25.69%.

Radian Group declared that its board has initiated a stock repurchase plan on Wednesday, May 21st that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire 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.

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.

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