Radian Group Inc. (NYSE:RDN) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 459,385 shares of the insurance provider's stock after selling 28,687 shares during the period. Rhumbline Advisers owned approximately 0.34% of Radian Group worth $15,192,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RDN. Picton Mahoney Asset Management raised its position in shares of Radian Group by 54.3% during the 4th quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider's stock worth $31,000 after purchasing an additional 342 shares during the last quarter. Covestor Ltd raised its position in shares of Radian Group by 35.6% during the 4th quarter. Covestor Ltd now owns 1,351 shares of the insurance provider's stock worth $43,000 after purchasing an additional 355 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Radian Group by 61.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,274 shares of the insurance provider's stock worth $40,000 after purchasing an additional 485 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Radian Group by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 15,854 shares of the insurance provider's stock worth $503,000 after purchasing an additional 502 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Radian Group by 0.3% during the 4th quarter. Alliancebernstein L.P. now owns 199,889 shares of the insurance provider's stock worth $6,340,000 after purchasing an additional 629 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

Radian Group Trading Up 0.9%

Shares of Radian Group stock traded up $0.29 during mid-day trading on Wednesday, hitting $33.97. The stock had a trading volume of 1,145,532 shares, compared to its average volume of 1,234,906. The firm has a 50-day moving average of $32.91 and a two-hundred day moving average of $32.88. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $37.86. The company has a quick ratio of 2.01, a current ratio of 2.87 and a debt-to-equity ratio of 0.50. The firm has a market cap of $4.56 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Radian Group had a net margin of 46.85% and a return on equity of 13.96%. The business had revenue of $318.11 million during the quarter, compared to analysts' expectations of $326.99 million. During the same quarter in the prior year, the company posted $1.03 EPS. The business's revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts forecast that Radian Group Inc. will post 3.79 earnings per share for the current year.

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

Radian Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 2nd will be given a dividend of $0.255 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.00%. Radian Group's payout ratio is currently 25.95%.

Insider Buying and Selling

In other Radian Group news, EVP Eric Ray sold 30,000 shares of the firm'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 transaction, the executive vice president now owns 13,957 shares of the company's stock, valued at $464,768.10. This trade represents a 68.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Edward J. Hoffman sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $33.72, for a total transaction of $337,200.00. Following the completion of the transaction, the executive vice president now directly owns 201,586 shares of the company's stock, valued at $6,797,479.92. This represents a 4.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,378 shares of company stock valued at $1,884,414. Company insiders own 2.01% of the company's stock.

Wall Street Analysts Forecast Growth

RDN has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated an "outperform" rating and set a $38.00 price target (up previously from $37.00) on shares of Radian Group in a research report on Friday, May 2nd. Compass Point downgraded shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, UBS Group upped their price objective on shares of Radian Group from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $36.83.

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.