Quantbot Technologies LP Boosts Stock Position in Radian Group Inc. $RDN

Key Points

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Quantbot Technologies LP lifted its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 3,691.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,316 shares of the insurance provider's stock after purchasing an additional 147,325 shares during the period. Quantbot Technologies LP owned about 0.11% of Radian Group worth $5,004,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. boosted its stake in shares of Radian Group by 11.8% in the 1st quarter. Federated Hermes Inc. now owns 110,772 shares of the insurance provider's stock valued at $3,663,000 after buying an additional 11,648 shares during the period. Jefferies Financial Group Inc. increased its stake in shares of Radian Group by 169.5% during the first quarter. Jefferies Financial Group Inc. now owns 104,717 shares of the insurance provider's stock worth $3,463,000 after buying an additional 65,867 shares during the period. Natixis Advisors LLC raised its holdings in Radian Group by 3.7% in the first quarter. Natixis Advisors LLC now owns 290,314 shares of the insurance provider's stock valued at $9,601,000 after acquiring an additional 10,368 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Radian Group by 16.4% in the first quarter. Teacher Retirement System of Texas now owns 39,532 shares of the insurance provider's stock worth $1,307,000 after acquiring an additional 5,570 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Radian Group by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,780 shares of the insurance provider's stock worth $489,000 after acquiring an additional 5,182 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 other Radian Group news, EVP Eric Ray sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $33.30, for a total value of $999,000.00. Following the completion of the sale, the executive vice president owned 13,957 shares in the company, valued at approximately $464,768.10. The trade was a 68.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noel Joseph Spiegel sold 5,105 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $33.66, for a total value of $171,834.30. Following the completion of the sale, the director directly owned 20,008 shares of the company's stock, valued at $673,469.28. The trade was a 20.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,378 shares of company stock valued at $2,944,414 over the last 90 days. 2.01% of the stock is owned by insiders.

Radian Group Stock Up 2.3%

NYSE:RDN traded up $0.8060 during midday trading on Friday, hitting $35.4560. 695,372 shares of the company were exchanged, compared to its average volume of 978,523. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $36.99. The company has a market capitalization of $4.80 billion, a PE ratio of 8.93 and a beta of 0.74. 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 fifty day simple moving average of $34.61 and a 200 day simple moving average of $33.38.

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 (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. The company had revenue of $318.00 million during the quarter, compared to the consensus estimate of $321.97 million. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. Radian Group's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. As a group, equities analysts anticipate that Radian Group Inc. will post 3.79 earnings per share for the current fiscal year.

Radian Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 21st that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 16.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Radian Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be 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 is Monday, August 25th. Radian Group's dividend payout ratio (DPR) is currently 25.69%.

Analyst Ratings Changes

A number of equities research analysts have commented on RDN shares. Keefe, Bruyette & Woods downgraded shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective on the stock. in a research report on Monday, July 7th. Barclays boosted their target price on shares of Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Compass Point lowered Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, UBS Group reaffirmed a "neutral" rating and set a $38.00 price target (up from $36.00) on shares of Radian Group in a report on Monday, July 14th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.