Radian Group Inc. (NYSE:RDN) Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Radian Group Inc. by 12.5%, selling 8,200 shares during the first quarter, leaving them with 57,300 shares valued at approximately $1.9 million.
• Company insiders, including Director Noel Joseph Spiegel and EVP Eric Ray, have recently sold a combined total of over 35,000 shares of Radian Group, reflecting significant decreases in their holdings.
• Radian Group announced a stock buyback plan of $750 million, which indicates that the board believes the stock is undervalued.

KLP Kapitalforvaltning AS decreased its position in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,300 shares of the insurance provider's stock after selling 8,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Radian Group were worth $1,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas grew its position in Radian Group by 16.4% in the 1st quarter. Teacher Retirement System of Texas now owns 39,532 shares of the insurance provider's stock valued at $1,307,000 after purchasing an additional 5,570 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Radian Group by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,780 shares of the insurance provider's stock worth $489,000 after acquiring an additional 5,182 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Radian Group during the fourth quarter valued at about $409,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Radian Group by 11.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,369 shares of the insurance provider's stock valued at $3,983,000 after buying an additional 12,498 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Radian Group by 3,667.5% during the first quarter. GAMMA Investing LLC now owns 243,494 shares of the insurance provider's stock worth $7,363,000 after purchasing an additional 237,031 shares in the last quarter. Institutional investors own 95.33% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on RDN shares. 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 Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective for the company. in a report on Monday, July 7th. UBS Group reissued a "neutral" rating and issued a $38.00 target price (up from $36.00) on shares of Radian Group in a research note on Monday, July 14th. Finally, Barclays increased their price objective 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. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $37.50.

Radian Group Stock Performance

Shares of RDN stock traded down $0.36 during trading hours on Wednesday, reaching $33.58. 1,493,215 shares of the company traded hands, compared to its average volume of 1,024,548. The firm has a 50-day moving average price of $34.48 and a 200 day moving average price of $33.29. The company has a market cap of $4.51 billion, a P/E ratio of 8.54 and a beta of 0.72. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $37.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.44 and a quick ratio of 3.44.

Radian Group (NYSE:RDN - Get Free Report) last released 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. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. During the same period in the prior year, the business posted $0.98 EPS. The company's quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts predict that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 2nd were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, June 2nd. Radian Group's dividend payout ratio (DPR) is 25.95%.

Radian Group declared that its board has approved a stock buyback program on Wednesday, May 21st that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 16.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Activity at Radian Group

In related news, Director Howard Bernard Culang sold 8,773 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $33.37, for a total transaction of $292,755.01. Following the completion of the transaction, the director owned 8,050 shares in the company, valued at $268,628.50. The trade was a 52.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric Ray sold 30,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $33.30, for a total value of $999,000.00. Following the completion of the sale, the executive vice president owned 13,957 shares of the company's stock, valued at $464,768.10. This represents a 68.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,378 shares of company stock worth $2,944,414 over the last quarter. 2.01% of the stock is owned by insiders.

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.