1,232,215 Shares in Radian Group Inc. $RDN Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Radian Group by purchasing 1,232,215 shares worth approximately $40.75 million, representing about 0.92% of the company's ownership.
• Several institutional investors, including First Trust Advisors LP and UBS AM, have significantly increased their positions in Radian Group, indicating a strong interest in the stock.
• The company recently reported earnings of $1.01 per share, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.255 per share with a yield of 3.0%.

Nuveen LLC purchased a new position in Radian Group Inc. (NYSE:RDN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,232,215 shares of the insurance provider's stock, valued at approximately $40,749,000. Nuveen LLC owned about 0.92% of Radian Group at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd raised its stake in shares of Radian Group by 42.6% in the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock worth $64,000 after purchasing an additional 576 shares during the last quarter. US Bancorp DE grew its holdings in shares of Radian Group by 22.7% in the first 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. GAMMA Investing LLC grew its holdings in shares of Radian Group by 13.9% in the first 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 period. Quantinno Capital Management LP grew its holdings in shares of 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 acquiring an additional 768 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Radian Group by 27.8% in the first quarter. Cerity Partners LLC now owns 11,324 shares of the insurance provider's stock worth $374,000 after acquiring an additional 2,465 shares during the period. Hedge funds and other institutional investors own 95.33% of the company's stock.

Radian Group Stock Performance

NYSE:RDN traded up $0.4720 during mid-day trading on Tuesday, hitting $34.8520. 501,207 shares of the company traded hands, compared to its average volume of 1,467,554. The stock's fifty day moving average price is $34.55 and its 200-day moving average price is $33.34. Radian Group Inc. has a one year low of $29.32 and a one year high of $36.99. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.54. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 8.78 and a beta of 0.74.

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

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be paid a $0.255 dividend. The ex-dividend date of this dividend is 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 announced that its board has approved a share repurchase program on Wednesday, May 21st that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 16.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group reaffirmed a "neutral" rating and issued a $38.00 price objective (up previously from $36.00) on shares of Radian Group in a report on Monday, July 14th. Compass Point lowered Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods lowered 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. Finally, Barclays lifted their price objective on Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Radian Group has an average rating of "Hold" and an average target price of $37.00.

Insider Transactions at Radian Group

In other news, EVP Edward J. Hoffman sold 20,000 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $36.00, for a total value of $720,000.00. Following the completion of the transaction, the executive vice president owned 161,586 shares of the company's stock, valued at $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 SEC, which is available at this hyperlink. Also, Director Noel Joseph Spiegel sold 5,105 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.66, for a total value of $171,834.30. Following the completion of the transaction, the director directly owned 20,008 shares of the company's stock, valued at approximately $673,469.28. This trade represents a 20.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,378 shares of company stock valued at $2,944,414. 2.16% of the stock is owned by corporate insiders.

About Radian Group

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.