Interval Partners LP Acquires New Holdings in Radian Group Inc. $RDN

Key Points

• Interval Partners LP has acquired 127,675 shares of Radian Group Inc., valued at approximately $4.22 million, representing 0.10% of the company's stock.
• Significant institutional interest in Radian Group is evident, with Jane Street Group LLC increasing its stake by 11,446.4% and now owning over 1.31 million shares worth approximately $43.34 million.
• Radian Group recently announced a quarterly dividend of $0.255 per share, with a 2.9% yield, and initiated a share repurchase plan of up to $750 million, indicating confidence in the stock's valuation.

Interval Partners LP acquired a new stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 127,675 shares of the insurance provider's stock, valued at approximately $4,222,000. Interval Partners LP owned 0.10% of Radian Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Covestor Ltd raised its position in shares of Radian Group by 42.6% during the 1st quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 576 shares during the period. Virtus Advisers LLC purchased a new position in shares of Radian Group in the 1st quarter worth $88,000. US Bancorp DE grew its stake in shares of Radian Group by 22.7% in the 1st quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock worth $131,000 after buying an additional 735 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Radian Group by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 7,363 shares of the insurance provider's stock worth $243,000 after purchasing an additional 900 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Radian Group by 9.8% during the 4th quarter. Quantinno Capital Management LP now owns 8,629 shares of the insurance provider's stock worth $274,000 after purchasing an additional 768 shares during the period. Institutional investors own 95.33% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lifted their price target on shares of Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Compass Point cut shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. UBS Group reaffirmed a "neutral" rating and set a $38.00 price target (up from $36.00) on shares of Radian Group in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods cut 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 research note on Monday, July 7th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Radian Group has an average rating of "Hold" and an average target price of $37.00.

Radian Group Stock Performance

Shares of Radian Group stock traded up $0.58 during trading on Thursday, hitting $35.50. 105,353 shares of the company's stock were exchanged, compared to its average volume of 1,390,702. The business has a 50-day simple moving average of $34.45 and a 200-day simple moving average of $33.56. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $36.99. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 8.94 and a beta of 0.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68.

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

Radian Group Dividend Announcement

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

Radian Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 16.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, EVP Edward J. Hoffman sold 20,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $36.00, for a total value of $720,000.00. Following the sale, the executive vice president directly owned 161,586 shares of the company's stock, valued at approximately $5,817,096. The trade was a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.01% of the company's stock.

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.