Wellington Management Group LLP Boosts Stock Holdings in Radian Group Inc. $RDN

Key Points

• Wellington Management Group LLP increased its stake in Radian Group by 9.3%, owning about 0.48% of the company, valued at approximately $21.47 million.
• Radian Group recently reported earnings per share (EPS) of $1.01 for the last quarter, exceeding analysts' expectations of $0.93.
• The company declared a quarterly dividend of $0.255 per share, with a payout ratio of 25.69% and a dividend yield of 2.9%.

Wellington Management Group LLP raised its position in Radian Group Inc. (NYSE:RDN - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 649,158 shares of the insurance provider's stock after buying an additional 55,273 shares during the period. Wellington Management Group LLP owned about 0.48% of Radian Group worth $21,468,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Radian Group by 9.2% in the 1st quarter. American Century Companies Inc. now owns 3,658,250 shares of the insurance provider's stock worth $120,978,000 after buying an additional 306,889 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in Radian Group in the 1st quarter worth about $290,000. Russell Investments Group Ltd. boosted its holdings in Radian Group by 3.0% in the 1st quarter. Russell Investments Group Ltd. now owns 97,234 shares of the insurance provider's stock worth $3,216,000 after buying an additional 2,808 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Radian Group by 42.5% in the 1st quarter. Public Sector Pension Investment Board now owns 528,798 shares of the insurance provider's stock worth $17,487,000 after buying an additional 157,740 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Radian Group during the 1st quarter worth approximately $40,749,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on RDN shares. UBS Group restated a "neutral" rating and set a $38.00 target price (up from $36.00) on shares of Radian Group in a report on Monday, July 14th. Keefe, Bruyette & Woods cut Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price on the stock. in a report on Monday, July 7th. Compass Point cut Radian Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Barclays boosted their target price 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 investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $37.00.

Radian Group Trading Up 0.5%

Shares of Radian Group stock traded up $0.19 during trading hours on Friday, hitting $34.85. The company's stock had a trading volume of 1,200,413 shares, compared to its average volume of 754,831. Radian Group Inc. has a twelve month low of $29.32 and a twelve month high of $36.99. The firm has a fifty day moving average of $34.64 and a 200-day moving average of $33.45. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 8.78 and a beta of 0.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68.

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

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be given 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 yield of 2.9%. Radian Group's payout ratio is presently 25.69%.

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

Insider Buying and Selling

In other Radian Group news, Director Noel Joseph Spiegel sold 5,105 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $33.66, for a total value of $171,834.30. Following the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric Ray sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were 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 directly owned 13,957 shares in the company, valued at approximately $464,768.10. The trade was a 68.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,378 shares of company stock valued at $2,944,414 over the last quarter. 2.16% 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.