MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 21,770 Shares of Radian Group Inc. $RDN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Radian Group Inc. by 15.7%, owning a total of 160,319 shares valued at $5.3 million.
• Several institutional investors significantly boosted their holdings in Radian Group, with Jane Street Group LLC increasing its stake by over 11,446% during the first quarter.
• Radian Group recently announced a quarterly dividend of $0.255 per share, reflecting a 2.9% dividend yield, and initiated a $750 million share repurchase plan, signaling confidence in its stock's valuation.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Radian Group Inc. (NYSE:RDN - Free Report) by 15.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 160,319 shares of the insurance provider's stock after buying an additional 21,770 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.12% of Radian Group worth $5,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RDN. AlphaQuest LLC lifted its stake in Radian Group by 3.1% during the 1st quarter. AlphaQuest LLC now owns 15,904 shares of the insurance provider's stock valued at $526,000 after acquiring an additional 476 shares during the period. Xponance Inc. raised its holdings in shares of Radian Group by 5.0% during the first quarter. Xponance Inc. now owns 11,379 shares of the insurance provider's stock valued at $376,000 after purchasing an additional 538 shares during the last quarter. Covestor Ltd lifted its position in Radian Group by 42.6% during the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 576 shares during the period. US Bancorp DE lifted its position in Radian Group by 22.7% during the first quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock valued at $131,000 after purchasing an additional 735 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in Radian Group by 9.8% in the fourth quarter. Quantinno Capital Management LP now owns 8,629 shares of the insurance provider's stock worth $274,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company's stock.

Insider Activity at Radian Group

In related news, EVP Edward J. Hoffman sold 20,000 shares of Radian Group stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $36.00, for a total transaction of $720,000.00. Following the transaction, the executive vice president owned 161,586 shares in the company, valued at approximately $5,817,096. The trade was a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RDN shares. Keefe, Bruyette & Woods lowered shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price for the company. in a research note on Monday, July 7th. Barclays upped 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. UBS Group reissued a "neutral" rating and issued a $38.00 target price (up previously from $36.00) on shares of Radian Group in a report on Monday, July 14th. Finally, Compass Point downgraded Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Radian Group has an average rating of "Hold" and a consensus price target of $37.00.

Radian Group Stock Performance

Shares of NYSE RDN traded down $0.37 during trading on Friday, hitting $35.14. The company had a trading volume of 519,266 shares, compared to its average volume of 638,558. Radian Group Inc. has a 12 month low of $29.32 and a 12 month high of $36.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $4.76 billion, a P/E ratio of 8.85 and a beta of 0.75. The stock has a 50 day simple moving average of $34.39 and a 200 day simple moving average of $33.61.

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

Radian Group announced that its board has approved a share buyback plan on Wednesday, May 21st that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 16.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Radian Group Dividend Announcement

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

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.