Royal Bank of Canada Reduces Stock Position in Radian Group Inc. (NYSE:RDN)

Royal Bank of Canada trimmed its position in Radian Group Inc. (NYSE:RDN - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 622,986 shares of the insurance provider's stock after selling 23,726 shares during the period. Royal Bank of Canada owned about 0.42% of Radian Group worth $19,761,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RDN. Picton Mahoney Asset Management lifted its stake in shares of Radian Group by 54.3% during the fourth quarter. Picton Mahoney Asset Management now owns 972 shares of the insurance provider's stock valued at $31,000 after buying an additional 342 shares during the period. V Square Quantitative Management LLC lifted its stake 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 period. Covestor Ltd lifted its stake 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 period. Smartleaf Asset Management LLC boosted its holdings in shares of Radian Group by 124.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,378 shares of the insurance provider's stock worth $75,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Radian Group by 735.8% in the fourth quarter. Jones Financial Companies Lllp now owns 2,407 shares of the insurance provider's stock valued at $76,000 after purchasing an additional 2,119 shares during the period. 95.33% of the stock is owned by institutional investors and hedge funds.

Radian Group Stock Down 0.0%

Radian Group stock traded down $0.02 during trading on Friday, reaching $34.22. 127,782 shares of the company's stock were exchanged, compared to its average volume of 1,215,008. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $37.86. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.73 and a beta of 0.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.87. The company's 50-day moving average is $32.80 and its two-hundred day moving average is $32.92.

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

Radian Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 2nd will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, June 2nd. Radian Group's dividend payout ratio (DPR) is 25.95%.

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

Analysts Set New Price Targets

Several research firms recently weighed in on RDN. Compass Point downgraded Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. 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. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $38.00 target price (up from $37.00) on shares of Radian Group in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Radian Group currently has an average rating of "Hold" and a consensus price target of $36.83.

Radian Group 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.