NewEdge Wealth LLC Takes $1.95 Million Position in Radian Group Inc. $RDN

Key Points

• NewEdge Wealth purchased 51,666 Radian Group shares worth approximately $1.95 million, while institutional investors collectively own 95.33% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $42.17, above the $36.64 opening price cited.
• Radian reported quarterly revenue of $574.96 million, up 92.3% year over year, but earnings of $1.14 per share missed estimates by $0.20. The company declared a quarterly dividend of $0.255 per share, representing a 2.8% annualized yield.

NewEdge Wealth LLC purchased a new position in shares of Radian Group Inc. (NYSE:RDN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 51,666 shares of the insurance provider's stock, valued at approximately $1,946,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Radian Group in the second quarter worth approximately $728,072,000. Norges Bank purchased a new stake in Radian Group in the fourth quarter valued at $77,364,000. Bruni J V & Co. Co. purchased a new stake in Radian Group in the second quarter valued at $59,355,376,000. Bank of New York Mellon Corp acquired a new position in shares of Radian Group in the 2nd quarter valued at $42,769,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Radian Group by 151.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,873,049 shares of the insurance provider's stock valued at $67,842,000 after purchasing an additional 1,128,852 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RDN. 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 cut shares of Radian Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Keefe, Bruyette & Woods reduced their price target on shares of Radian Group from $46.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Bank of America upgraded shares of Radian Group from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada assumed coverage on shares of Radian Group in a research report on Friday, May 22nd. They set an "outperform" rating and a $47.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.17.

Insiders Place Their Bets

In related news, Director Noel Joseph Spiegel sold 4,834 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the transaction, the director directly owned 20,008 shares of the company's stock, valued at $724,089.52. This trade represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Howard Bernard Culang sold 3,612 shares of Radian Group stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $36.00, for a total transaction of $130,032.00. Following the sale, the chairman owned 8,050 shares in the company, valued at $289,800. This represents a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,517 shares of company stock worth $557,610 in the last three months. 2.03% of the stock is owned by company insiders.

Radian Group Stock Up 0.8%

Shares of NYSE RDN opened at $36.64 on Friday. The business's fifty day simple moving average is $37.41 and its 200-day simple moving average is $35.50. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.85 billion, a P/E ratio of 9.42, a PEG ratio of 0.88 and a beta of 0.72. Radian Group Inc. has a 12-month low of $31.50 and a 12-month high of $41.05.

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

Radian Group Dividend Announcement

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

Radian Group Profile

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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