Radian Group Inc. (NYSE:RDN) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System has reduced its stake in Radian Group Inc. by 15.5%, selling off 7,764 shares in the first quarter.
• Radian Group reported a quarterly earnings per share of $1.01, surpassing analyst expectations of $0.93, despite a slight year-over-year revenue decline of 0.9%.
• Radian Group's Board of Directors has initiated a $750 million stock buyback program, indicating confidence in the company's undervalued stock.

Maryland State Retirement & Pension System reduced its holdings in Radian Group Inc. (NYSE:RDN - Free Report) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,391 shares of the insurance provider's stock after selling 7,764 shares during the period. Maryland State Retirement & Pension System's holdings in Radian Group were worth $1,402,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG boosted its holdings in Radian Group by 161.9% in the 1st quarter. Deutsche Bank AG now owns 553,737 shares of the insurance provider's stock valued at $18,312,000 after purchasing an additional 342,330 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Radian Group by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,340,962 shares of the insurance provider's stock worth $209,696,000 after acquiring an additional 246,799 shares during the period. Factorial Partners LLC lifted its holdings in shares of Radian Group by 25.5% during the 1st quarter. Factorial Partners LLC now owns 29,500 shares of the insurance provider's stock worth $976,000 after acquiring an additional 6,000 shares during the period. Jefferies Financial Group Inc. lifted its holdings in shares of Radian Group by 169.5% during the 1st quarter. Jefferies Financial Group Inc. now owns 104,717 shares of the insurance provider's stock worth $3,463,000 after acquiring an additional 65,867 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Radian Group by 22.7% during the 1st quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock worth $131,000 after acquiring an additional 735 shares during the period. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Radian Group news, Director Lisa Mumford sold 2,500 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $33.45, for a total transaction of $83,625.00. Following the transaction, the director owned 22,329 shares in the company, valued at $746,905.05. The trade was a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward J. Hoffman sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 161,586 shares in the company, valued at approximately $5,817,096. This trade represents a 11.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,378 shares of company stock valued at $2,944,414 in the last three months. Corporate insiders own 2.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price target for the company. in a report on Monday, July 7th. Barclays raised their price target on shares of Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Compass Point cut shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, UBS Group restated a "neutral" rating and issued a $38.00 price target (up from $36.00) on shares of Radian Group in a report on Monday, July 14th.

Radian Group Trading Down 0.5%

Shares of Radian Group stock traded down $0.18 during trading on Thursday, reaching $35.05. The company's stock had a trading volume of 284,550 shares, compared to its average volume of 1,479,600. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $36.99. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 8.83 and a beta of 0.74. The firm's 50-day moving average is $34.47 and its two-hundred day moving average is $33.35. 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 (NYSE:RDN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.08. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. The company had revenue of $318.00 million during the quarter, compared to analyst estimates of $321.97 million. During the same period in the prior year, the business posted $0.98 EPS. The firm's revenue was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Radian Group Inc. will post 3.79 earnings per share for the current 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 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 given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.9%. Radian Group's dividend payout ratio is presently 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.