Royal Bank of Canada Grows Position in Radian Group Inc. $RDN

Royal Bank of Canada lifted its holdings in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 634,247 shares of the insurance provider's stock after purchasing an additional 11,261 shares during the period. Royal Bank of Canada owned about 0.47% of Radian Group worth $20,974,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd raised its stake in shares of 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 purchasing an additional 576 shares during the period. Virtus Advisers LLC bought a new stake in Radian Group in the 1st quarter valued at about $88,000. US Bancorp DE raised its stake in Radian Group by 22.7% in the 1st 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. GAMMA Investing LLC raised its stake in Radian Group by 13.9% in the 1st quarter. GAMMA Investing LLC now owns 7,363 shares of the insurance provider's stock valued at $243,000 after acquiring an additional 900 shares during the period. Finally, Quantinno Capital Management LP raised its stake in Radian Group by 9.8% in the 4th quarter. Quantinno Capital Management LP now owns 8,629 shares of the insurance provider's stock valued at $274,000 after acquiring an additional 768 shares during the period. 95.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RDN. Barclays boosted their price objective on Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Compass Point cut Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. UBS Group restated a "neutral" rating and issued a $38.00 price objective (up from $36.00) on shares of Radian Group in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods cut Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective on the stock. in a research note on Monday, July 7th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $37.00.

Radian Group Price Performance

Shares of NYSE RDN traded down $0.37 during midday trading on Friday, hitting $35.14. 519,266 shares of the company's stock were exchanged, compared to its average volume of 638,558. Radian Group Inc. has a 12-month low of $29.32 and a 12-month high of $36.99. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.54. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 8.85 and a beta of 0.75. The business's fifty day moving average price is $34.39 and its two-hundred day moving average price is $33.60.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $1.01 EPS for the quarter, topping 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 company had revenue of $318.00 million during the quarter, compared to analyst estimates of $321.97 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Radian Group's revenue was down .9% on a year-over-year basis. As a group, research analysts forecast that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.02 annualized dividend and a yield of 2.9%. Radian Group's dividend payout ratio is currently 25.69%.

Radian Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 21st that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 16.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Radian Group

In other Radian Group news, EVP Edward J. Hoffman sold 20,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $36.00, for a total value of $720,000.00. Following the completion of the sale, the executive vice president owned 161,586 shares of the company's stock, valued at $5,817,096. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.01% of the stock is currently 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.