Versor Investments LP Lowers Position in Radian Group Inc. $RDN

Key Points

• Versor Investments LP has reduced its holdings in Radian Group Inc. by 19.2% in the first quarter, now owning 32,917 shares, valued at approximately $1,089,000.
• Radian Group announced a quarterly dividend of $0.255 per share, representing a 3.0% yield, to be paid on September 9th.
• Several analysts have recently updated their ratings on Radian Group, with UBS Group reaffirming a "neutral" rating and raising the price target from $36.00 to $38.00.

Versor Investments LP reduced its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,917 shares of the insurance provider's stock after selling 7,844 shares during the quarter. Versor Investments LP's holdings in Radian Group were worth $1,089,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RDN. Federated Hermes Inc. grew its stake in Radian Group by 11.8% in the first quarter. Federated Hermes Inc. now owns 110,772 shares of the insurance provider's stock valued at $3,663,000 after acquiring an additional 11,648 shares during the period. Jefferies Financial Group Inc. increased its position 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 valued at $3,463,000 after acquiring an additional 65,867 shares during the last quarter. Natixis Advisors LLC increased its holdings in Radian Group by 3.7% during the first quarter. Natixis Advisors LLC now owns 290,314 shares of the insurance provider's stock worth $9,601,000 after buying an additional 10,368 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Radian Group by 16.4% during the first quarter. Teacher Retirement System of Texas now owns 39,532 shares of the insurance provider's stock valued at $1,307,000 after purchasing an additional 5,570 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Radian Group by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,780 shares of the insurance provider's stock valued at $489,000 after purchasing an additional 5,182 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Radian Group Trading Up 2.3%

Radian Group stock traded up $0.8060 during mid-day trading on Friday, hitting $35.4560. The company's stock had a trading volume of 695,372 shares, compared to its average volume of 1,450,889. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 8.93 and a beta of 0.74. The business has a 50 day moving average price of $34.59 and a 200-day moving average price of $33.37. Radian Group Inc. has a 12 month low of $29.32 and a 12 month high of $36.99.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. The business 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%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, analysts forecast that Radian Group Inc. will post 3.79 EPS for the current year.

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

Radian Group Dividend Announcement

The company also recently disclosed 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 is Monday, August 25th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.9%. Radian Group's payout ratio is presently 25.69%.

Insider Transactions at Radian Group

In other Radian Group news, Director Howard Bernard Culang sold 8,773 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.37, for a total value of $292,755.01. Following the transaction, the director owned 8,050 shares in the company, valued at approximately $268,628.50. The trade was a 52.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa Mumford sold 2,500 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.45, for a total transaction of $83,625.00. Following the completion of the transaction, the director owned 22,329 shares in the company, valued at $746,905.05. The trade was a 10.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,378 shares of company stock valued at $2,944,414. Company insiders own 2.01% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RDN. Barclays increased their target price on Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. UBS Group restated a "neutral" rating and set a $38.00 target price (up previously from $36.00) on shares of Radian Group in a research report on Monday, July 14th. Keefe, Bruyette & Woods downgraded Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price on the stock. in a research report on Monday, July 7th. Finally, Compass Point downgraded Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Radian Group presently has a consensus rating of "Hold" and a consensus target price of $37.00.

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.