Jane Street Group LLC Buys 1,299,167 Shares of Radian Group Inc. $RDN

Key Points

• Jane Street Group LLC significantly increased its stake in Radian Group Inc., acquiring 1,299,167 shares, bringing its total to 1,310,517 shares valued at approximately $43.34 million.
• Radian Group has announced a quarterly dividend of $0.255 per share, with an annualized yield of 2.9%, scheduled to be paid on September 9th.
• The company reported earnings of $1.01 per share for the last quarter, exceeding analysts' estimates by $0.08, but its revenue slightly fell short of expectations at $318 million.

Jane Street Group LLC boosted its stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 11,446.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,310,517 shares of the insurance provider's stock after purchasing an additional 1,299,167 shares during the period. Jane Street Group LLC owned about 0.98% of Radian Group worth $43,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC raised its stake in Radian Group by 3.1% during the 1st quarter. AlphaQuest LLC now owns 15,904 shares of the insurance provider's stock valued at $526,000 after buying an additional 476 shares during the last quarter. Xponance Inc. grew its holdings in shares of Radian Group by 5.0% in the first quarter. Xponance Inc. now owns 11,379 shares of the insurance provider's stock worth $376,000 after acquiring an additional 538 shares during the period. Covestor Ltd increased its position in Radian Group by 42.6% during the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock valued at $64,000 after acquiring an additional 576 shares during the last quarter. US Bancorp DE lifted its holdings in Radian Group by 22.7% in the first quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock valued at $131,000 after acquiring an additional 735 shares during the period. Finally, Quantinno Capital Management LP boosted its position in Radian Group by 9.8% in the fourth 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 last quarter. Hedge funds and other institutional investors own 95.33% of the company's stock.

Radian Group Price Performance

NYSE RDN opened at $34.71 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.54. Radian Group Inc. has a 12 month low of $29.32 and a 12 month high of $36.99. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 8.74 and a beta of 0.74. The company's 50 day moving average is $34.63 and its two-hundred day moving average is $33.39.

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, topping analysts' consensus estimates of $0.93 by $0.08. The firm 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%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. As a group, research analysts anticipate that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.02 dividend on an annualized basis and a yield of 2.9%. Radian Group's dividend payout ratio (DPR) is currently 25.69%.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on RDN shares. Compass Point lowered shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. UBS Group reaffirmed a "neutral" rating and set a $38.00 target price (up from $36.00) on shares of Radian Group in a report on Monday, July 14th. Barclays increased 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 report on Tuesday, July 8th. 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 on the stock. in a research note on Monday, July 7th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average price target of $37.00.

Insider Transactions at Radian Group

In other news, Director Noel Joseph Spiegel sold 5,105 shares of Radian Group stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $33.66, for a total transaction of $171,834.30. Following the sale, the director owned 20,008 shares in the company, valued at $673,469.28. This trade represents a 20.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Edward J. Hoffman sold 20,000 shares of the business's 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 completion of the transaction, the executive vice president directly owned 161,586 shares in the company, valued at $5,817,096. This trade represents a 11.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,378 shares of company stock valued at $2,944,414. 2.16% of the stock is owned by corporate insiders.

Radian Group Profile

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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