Radian Group Inc. $RDN Shares Acquired by Jane Street Group LLC

Key Points

• Jane Street Group LLC raised its position in Radian Group Inc. by 11,446.4%, acquiring over 1.3 million shares in the first quarter, bringing its total holdings to approximately $43.34 million.
• Radian Group recently announced a quarterly dividend of $0.255 per share, representing an annualized yield of 2.9%, with a payout ratio of 25.69%.
• Analysts have mixed views on Radian Group, with a consensus "Hold" rating and a target price of $37.00, indicating potential stability amidst recent trading fluctuations.

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

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nuveen LLC purchased a new position in Radian Group in the 1st quarter worth $40,749,000. Millennium Management LLC acquired a new position in shares of Radian Group in the first quarter valued at about $27,282,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Radian Group by 109.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 901,260 shares of the insurance provider's stock worth $28,588,000 after purchasing an additional 470,158 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Radian Group by 161.9% during the first quarter. Deutsche Bank AG now owns 553,737 shares of the insurance provider's stock worth $18,312,000 after purchasing an additional 342,330 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Radian Group by 9.2% during the first quarter. American Century Companies Inc. now owns 3,658,250 shares of the insurance provider's stock worth $120,978,000 after purchasing an additional 306,889 shares during the period. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Radian Group

In other Radian Group news, 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 transaction, the executive vice president owned 161,586 shares of the company's stock, valued at approximately $5,817,096. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.16% of the company's stock.

Analyst Upgrades and Downgrades

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

Radian Group Price Performance

RDN traded down $0.37 during midday trading on Friday, hitting $35.14. 519,266 shares of the company traded hands, compared to its average volume of 615,404. The business has a 50 day simple moving average of $34.39 and a two-hundred day simple moving average of $33.62. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $36.99. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 8.85 and a beta of 0.75. 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 (NYSE:RDN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The firm had revenue of $318.00 million during the quarter, compared to the consensus estimate of $321.97 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts forecast that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 21st that allows the company to buyback $750.00 million in shares. This buyback authorization allows the insurance provider to purchase up to 16.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

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 given a $0.255 dividend. The ex-dividend date was Monday, August 25th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.9%. Radian Group's dividend payout ratio is 25.69%.

Radian Group Company 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.