Jump Financial LLC Takes $844,000 Position in Radian Group Inc. $RDN

Key Points

• Jump Financial LLC has acquired a new 25,531-share position in Radian Group Inc., valued at approximately $844,000 in the first quarter of 2023.
• Radian Group has announced a quarterly dividend of $0.255 per share, which translates to a 2.9% dividend yield and will be paid to investors on September 9th, 2023.
• Several analysts have recently adjusted their ratings on Radian Group, with a consensus rating of "Hold" and a target price of $37.00, indicating a cautious outlook amid mixed performance metrics.

Jump Financial LLC purchased a new position in Radian Group Inc. (NYSE:RDN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,531 shares of the insurance provider's stock, valued at approximately $844,000.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Radian Group by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,340,962 shares of the insurance provider's stock worth $209,696,000 after purchasing an additional 246,799 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Radian Group by 9.2% in the first quarter. American Century Companies Inc. now owns 3,658,250 shares of the insurance provider's stock worth $120,978,000 after buying an additional 306,889 shares during the last quarter. Ameriprise Financial Inc. grew its position in Radian Group by 5.3% during the first quarter. Ameriprise Financial Inc. now owns 1,569,410 shares of the insurance provider's stock valued at $51,902,000 after buying an additional 79,159 shares during the period. Nuveen LLC purchased a new stake in Radian Group during the first quarter valued at approximately $40,749,000. Finally, 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 buying an additional 470,158 shares during the period. 95.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Radian Group

In other news, EVP Edward J. Hoffman sold 20,000 shares of the firm's stock in a transaction dated 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 directly owned 161,586 shares in the company, valued at $5,817,096. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Mumford sold 2,500 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $33.45, for a total value of $83,625.00. Following the transaction, the director owned 22,329 shares in the company, valued at $746,905.05. This trade represents a 10.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,378 shares of company stock worth $2,607,214. Corporate insiders own 2.01% of the company's stock.

Analyst Upgrades and Downgrades

RDN has been the subject of a number of recent analyst reports. 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 downgraded shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price on the stock. in a report on Monday, July 7th. Barclays boosted their target price on Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, UBS Group reissued 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. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $37.00.

Radian Group Stock Performance

Shares of Radian Group stock traded up $0.19 during midday trading on Thursday, hitting $35.20. The company had a trading volume of 266,820 shares, compared to its average volume of 1,413,764. The company has a fifty day simple moving average of $34.56 and a 200 day simple moving average of $33.48. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 8.88 and a beta of 0.75. The company has a quick ratio of 1.68, a current 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.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings results 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 business 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 business's quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. As a group, analysts predict that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group declared that its board has authorized a share buyback program on Wednesday, May 21st that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 16.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Radian Group Announces Dividend

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

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.