Legal & General Group Plc Takes $12.18 Million Position in Radian Group Inc. $RDN

Key Points

• Legal & General Group Plc acquired 323,292 Radian Group shares worth approximately $12.18 million, giving it a 0.24% stake. Institutional investors collectively own 95.33% of Radian’s outstanding stock.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $42.17.
• Radian reported quarterly EPS of $1.14, below the $1.34 consensus estimate, while revenue rose 92.3% year over year to $574.96 million. The company also declared a quarterly dividend of $0.255 per share, representing a 2.8% annualized yield.

Legal & General Group Plc purchased a new position in Radian Group Inc. (NYSE:RDN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 323,292 shares of the insurance provider's stock, valued at approximately $12,178,000. Legal & General Group Plc owned about 0.24% of Radian Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RDN. Northwestern Mutual Wealth Management Co. boosted its position in Radian Group by 178.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 476 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock worth $29,000 after purchasing an additional 572 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Radian Group by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider's stock valued at $33,000 after buying an additional 360 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Radian Group during the 3rd quarter valued at about $34,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Radian Group in the 2nd quarter valued at approximately $37,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RDN shares. Royal Bank Of Canada initiated coverage on Radian Group in a report on Friday, May 22nd. They issued an "outperform" rating and a $47.00 price objective on the stock. Barclays decreased their target price on shares of Radian Group from $39.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Radian Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Radian Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Radian Group from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Radian Group has an average rating of "Moderate Buy" and a consensus target price of $42.17.

Radian Group Stock Down 1.7%

Radian Group stock opened at $35.80 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The firm has a fifty day moving average price of $37.65 and a two-hundred day moving average price of $35.67. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 0.88 and a beta of 0.72.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). The business had revenue of $574.96 million during the quarter, compared to analyst estimates of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The company's revenue for the quarter was up 92.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, analysts forecast that Radian Group Inc. will post 4.86 earnings per share for the current year.

Radian Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.02 dividend on an annualized basis and a yield of 2.8%. Radian Group's dividend payout ratio (DPR) is 26.22%.

About Radian Group

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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