824,972 Shares in Radian Group Inc. $RDN Acquired by Millennium Management LLC

Key Points

• Millennium Management LLC has acquired a new position in Radian Group Inc. by purchasing 824,972 shares valued at approximately $27.3 million, holding about 0.61% of the company by the end of the reporting period.
• Radian Group's stock price increased by 1.7%, opening at $35.51, with a market capitalization of $4.81 billion and a price-to-earnings ratio of 8.94.
• The company recently declared a quarterly dividend of $0.255 per share, representing an annualized yield of 2.9%, with a dividend payout ratio of 25.69%.

Millennium Management LLC acquired a new position in Radian Group Inc. (NYSE:RDN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 824,972 shares of the insurance provider's stock, valued at approximately $27,282,000. Millennium Management LLC owned approximately 0.61% of Radian Group at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of Radian Group by 42.6% in the 1st quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock worth $64,000 after purchasing an additional 576 shares in the last quarter. Virtus Advisers LLC purchased a new position in Radian Group in the 1st quarter worth $88,000. US Bancorp DE raised its stake in Radian Group by 22.7% in 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 last quarter. GAMMA Investing LLC raised its stake in Radian Group by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 7,363 shares of the insurance provider's stock worth $243,000 after acquiring an additional 900 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Radian Group by 9.8% in the 4th quarter. Quantinno Capital Management LP now owns 8,629 shares of the insurance provider's stock worth $274,000 after acquiring an additional 768 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company's stock.

Insider Buying and Selling at Radian Group

In other news, EVP Edward J. Hoffman sold 20,000 shares of the company's stock in a transaction 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 sale, the executive vice president owned 161,586 shares of the company's stock, valued at approximately $5,817,096. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.01% of the company's stock.

Radian Group Price Performance

NYSE:RDN traded down $0.37 during trading hours on Friday, hitting $35.14. 519,266 shares of the stock were exchanged, compared to its average volume of 638,558. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $36.99. The firm's fifty day moving average price is $34.39 and its 200 day moving average price is $33.62. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.54. The company has a market cap of $4.76 billion, a P/E ratio of 8.85 and a beta of 0.75.

Radian Group (NYSE:RDN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. Radian Group had a return on equity of 13.25% and a net margin of 45.62%.The business had revenue of $318.00 million for the quarter, compared to analysts' expectations of $321.97 million. During the same period in the previous year, the firm posted $0.98 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group declared that its board has approved a stock repurchase plan on Wednesday, May 21st that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, August 25th. Radian Group's dividend payout ratio is 25.69%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RDN shares. UBS Group restated a "neutral" rating and issued a $38.00 target price (up previously from $36.00) on shares of Radian Group in a research note on Monday, July 14th. Barclays lifted their price objective on 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 Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods cut 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. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $37.00.

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.