Radian Group Inc. $RDN Stock Holdings Lowered by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Radian Group Inc. by 25.7%, bringing its ownership to 391,499 shares valued at approximately $14.1 million.
• Radian Group reported $1.01 earnings per share for the last quarter, exceeding expectations, but disclosed a 9% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.255 per share, resulting in an annual yield of 2.8%, with a payout ratio of 25.69%.

Assenagon Asset Management S.A. lowered its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 25.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 391,499 shares of the insurance provider's stock after selling 135,451 shares during the period. Assenagon Asset Management S.A. owned approximately 0.29% of Radian Group worth $14,102,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RDN. Geneos Wealth Management Inc. raised its position in shares of Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock worth $29,000 after purchasing an additional 572 shares during the period. Covestor Ltd raised its holdings in Radian Group by 42.6% during the 1st quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock worth $64,000 after buying an additional 576 shares during the period. Virtus Advisers LLC acquired a new stake in Radian Group during the 1st quarter worth about $88,000. Jones Financial Companies Lllp raised its holdings in Radian Group by 14.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock worth $91,000 after buying an additional 357 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Radian Group by 22.7% during the first quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock valued at $131,000 after acquiring an additional 735 shares during the period. Institutional investors own 95.33% of the company's stock.

Insider Transactions at Radian Group

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $37.00, for a total transaction of $370,000.00. Following the transaction, the executive vice president owned 153,708 shares of the company's stock, valued at $5,687,196. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.16% of the company's stock.

Radian Group Stock Down 2.0%

NYSE:RDN opened at $36.49 on Tuesday. The stock's fifty day moving average price is $34.52 and its two-hundred day moving average price is $33.77. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $38.84. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 9.19 and a beta of 0.75.

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

Radian Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, August 25th. Radian Group's payout ratio is presently 25.69%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RDN shares. Keefe, Bruyette & Woods lowered shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price target on the stock. in a report on Monday, July 7th. UBS Group reissued a "neutral" rating and set a $38.00 price target (up from $36.00) on shares of Radian Group in a research report on Monday, July 14th. Finally, Barclays upped their price target on Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.

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