Mirae Asset Global Investments Co. Ltd. Acquires 12,498 Shares of Radian Group Inc. (NYSE:RDN)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 11.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,369 shares of the insurance provider's stock after purchasing an additional 12,498 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Radian Group worth $3,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Radian Group in the 1st quarter worth $1,050,000. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 900 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Radian Group by 22.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 57,759 shares of the insurance provider's stock worth $1,910,000 after purchasing an additional 10,495 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Radian Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 869,869 shares of the insurance provider's stock worth $27,592,000 after purchasing an additional 9,723 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Radian Group in the 4th quarter worth $4,350,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on RDN shares. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $38.00 price objective (up from $37.00) on shares of Radian Group in a research note on Friday, May 2nd. UBS Group increased their price target on Radian Group from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Compass Point lowered 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 and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $36.83.

Radian Group Price Performance

RDN stock traded up $0.48 during trading on Friday, reaching $36.80. The company's stock had a trading volume of 450,965 shares, compared to its average volume of 1,281,614. Radian Group Inc. has a 1 year low of $29.32 and a 1 year high of $37.86. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $4.94 billion, a P/E ratio of 9.36 and a beta of 0.72. The company's fifty day moving average is $34.24 and its 200-day moving average is $33.00.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. Radian Group had a return on equity of 13.54% and a net margin of 46.29%. The business had revenue of $318.11 million during the quarter, compared to analyst estimates of $326.99 million. During the same quarter in the prior year, the business posted $1.03 EPS. Radian Group's revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts expect that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 2nd were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.77%. Radian Group's payout ratio is 25.95%.

Radian Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 21st that permits the company to buyback $750.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 16.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, Director Noel Joseph Spiegel sold 5,105 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.66, for a total transaction of $171,834.30. Following the completion of the transaction, the director owned 20,008 shares in the company, valued at $673,469.28. This trade represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Howard Bernard Culang sold 8,773 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.37, for a total value of $292,755.01. Following the transaction, the director owned 8,050 shares of the company's stock, valued at approximately $268,628.50. The trade was a 52.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,378 shares of company stock valued at $2,944,414. 2.01% of the stock is owned by corporate insiders.

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.