Radian Group Inc. $RDN Shares Sold by Glenmede Trust Co. NA

Key Points

• Glenmede Trust reduced its Radian Group stake by 8.2%, selling 33,621 shares and retaining 376,583 shares valued at approximately $12.46 million. Institutional investors and hedge funds collectively own 95.33% of the company.
• Analysts maintain a generally positive view, with five Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $43.17, above the reported share price of $39.05.
• Radian reported quarterly earnings of $1.27 per share, exceeding estimates by $0.10, while revenue rose 46.6% year over year to $466.34 million. The company also paid a quarterly dividend of $0.255 per share, equivalent to a 2.6% annualized yield.

Glenmede Trust Co. NA decreased its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,583 shares of the insurance provider's stock after selling 33,621 shares during the period. Glenmede Trust Co. NA owned approximately 0.28% of Radian Group worth $12,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Radian Group in the fourth quarter worth approximately $77,364,000. Balyasny Asset Management L.P. grew 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 buying an additional 1,128,852 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Radian Group by 43.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider's stock worth $108,411,000 after purchasing an additional 916,003 shares during the last quarter. Millennium Management LLC increased its position in Radian Group by 59.7% during the third quarter. Millennium Management LLC now owns 1,007,172 shares of the insurance provider's stock worth $36,480,000 after buying an additional 376,533 shares during the last quarter. Finally, Aegis Financial Corp acquired a new position in shares of Radian Group during the 1st quarter valued at about $9,768,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Margaret Anne Leyden sold 2,070 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $34.59, for a total value of $71,601.30. Following the transaction, the director owned 6,864 shares of the company's stock, valued at approximately $237,425.76. This trade represents a 23.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Howard Bernard Culang sold 5,000 shares of Radian Group stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.20, for a total transaction of $181,000.00. Following the sale, the chairman owned 11,662 shares of the company's stock, valued at approximately $422,164.40. This represents a 30.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,516 shares of company stock valued at $1,127,576 over the last 90 days. Corporate insiders own 2.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RDN. Keefe, Bruyette & Woods boosted their price objective on shares of Radian Group from $43.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Zacks Research cut Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Wall Street Zen raised shares of Radian Group from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays increased their price objective on Radian Group from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Finally, Bank of America raised shares of Radian Group from an "underperform" rating to a "buy" rating and upped their target price for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Radian Group Stock Up 0.2%

Shares of NYSE RDN opened at $39.05 on Monday. Radian Group Inc. has a 12-month low of $31.50 and a 12-month high of $41.05. The firm's 50-day simple moving average is $36.61 and its 200 day simple moving average is $35.08. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.16. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.98 and a beta of 0.72.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.10. Radian Group had a net margin of 40.50% and a return on equity of 13.57%. The firm had revenue of $466.34 million during the quarter, compared to analysts' expectations of $377.83 million. During the same quarter last year, the company posted $0.99 EPS. The company's quarterly revenue was up 46.6% compared to the same quarter last year. On average, research analysts expect that Radian Group Inc. will post 5.17 earnings per share for the current fiscal year.

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.255 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.6%. Radian Group's payout ratio is presently 25.12%.

About Radian Group

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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