Legal & General Group Plc Has $13.07 Million Stock Holdings in Radian Group Inc. $RDN

Key Points

• Legal & General Group Plc reduced its Radian Group stake by 14.8% in the fourth quarter, ending with 363,053 shares valued at about $13.1 million.
• Radian Group reported strong quarterly results, with EPS of $1.27 beating estimates and revenue of $466.34 million, up 46.6% year over year.
• The company also announced a quarterly dividend of $0.255 per share, implying a 3.0% annualized yield, while analysts maintain a Moderate Buy consensus with an average price target of $42.67.

Legal & General Group Plc trimmed its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,053 shares of the insurance provider's stock after selling 63,034 shares during the quarter. Legal & General Group Plc owned approximately 0.27% of Radian Group worth $13,066,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RDN. Compass Rose Asset Management LP acquired a new position in Radian Group during the third quarter worth $9,960,000. Capital World Investors raised its position in Radian Group by 10.7% during the third quarter. Capital World Investors now owns 1,454,087 shares of the insurance provider's stock worth $52,667,000 after acquiring an additional 140,003 shares in the last quarter. Alps Advisors Inc. lifted its stake in Radian Group by 57.3% in the third quarter. Alps Advisors Inc. now owns 571,588 shares of the insurance provider's stock valued at $20,703,000 after acquiring an additional 208,181 shares during the last quarter. Lighthouse Investment Partners LLC lifted its stake in Radian Group by 49.9% in the third quarter. Lighthouse Investment Partners LLC now owns 125,763 shares of the insurance provider's stock valued at $4,555,000 after acquiring an additional 41,861 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Radian Group by 4.4% in the 3rd quarter. American Century Companies Inc. now owns 4,019,483 shares of the insurance provider's stock valued at $145,586,000 after acquiring an additional 171,049 shares during the period. Institutional investors and hedge funds own 95.33% of the company's stock.

Insider Activity at Radian Group

In related news, EVP Edward J. Hoffman sold 15,000 shares of Radian Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.00, for a total transaction of $570,000.00. Following the completion of the sale, the executive vice president directly owned 93,708 shares of the company's stock, valued at approximately $3,560,904. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael S. Weinbach purchased 120,487 shares of Radian Group stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $33.89 per share, with a total value of $4,083,304.43. Following the completion of the purchase, the chief executive officer directly owned 120,487 shares in the company, valued at $4,083,304.43. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 75,516 shares of company stock valued at $2,747,576 in the last 90 days. Corporate insiders own 2.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RDN shares. Royal Bank Of Canada started coverage on shares of Radian Group in a report on Friday, May 22nd. They issued an "outperform" rating and a $47.00 target price on the stock. UBS Group reduced their price target on Radian Group from $41.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Wall Street Zen raised Radian Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Zacks Research lowered Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. Finally, Keefe, Bruyette & Woods raised their price objective on Radian Group from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, April 10th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Radian Group presently has a consensus rating of "Moderate Buy" and an average price target of $42.67.

Radian Group Stock Performance

NYSE RDN opened at $33.86 on Wednesday. The stock has a market cap of $4.50 billion, a PE ratio of 8.34, a P/E/G ratio of 0.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a 50-day moving average of $35.19 and a 200-day moving average of $34.72. Radian Group Inc. has a 52-week low of $31.50 and a 52-week high of $38.84.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.10. The business had revenue of $466.34 million for the quarter, compared to analyst estimates of $377.83 million. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. Radian Group's quarterly revenue was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 EPS. On average, sell-side analysts anticipate that Radian Group Inc. will post 5.11 EPS for the current year.

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd will be given a $0.255 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. Radian Group's dividend payout ratio is presently 25.12%.

Radian Group Profile

Radian Group Inc NYSE: RDN is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian's core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.

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