State of Wyoming Buys New Stake in Radian Group Inc. $RDN

Key Points

• Wyoming initiated a position in Radian Group, purchasing 27,764 shares valued at approximately $1.05 million during the second quarter. Institutional investors and hedge funds collectively own 95.33% of the company.
• Analyst sentiment is moderately positive, with five Buy ratings and three Holds producing an average price target of $42.17, compared with the stock’s opening price of $37.20.
• Radian reported quarterly revenue of $574.96 million, up 92.3% year over year, although earnings of $1.14 per share fell short of estimates. The company also declared a quarterly dividend of $0.255, implying a 2.7% annualized yield.

State of Wyoming bought a new position in Radian Group Inc. (NYSE:RDN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,764 shares of the insurance provider's stock, valued at approximately $1,046,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of Radian Group by 14.8% in the first quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock worth $91,000 after purchasing an additional 357 shares during the period. Geneos Wealth Management Inc. boosted its stake in Radian Group by 191.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 572 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Radian Group by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,860 shares of the insurance provider's stock valued at $67,000 after buying an additional 901 shares during the last quarter. Walleye Capital LLC acquired a new stake in Radian Group in the 2nd quarter valued at approximately $239,000. Finally, Marshall Wace LLP bought a new position in Radian Group in the 2nd quarter worth approximately $452,000. Institutional investors and hedge funds own 95.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RDN shares. Bank of America upgraded Radian Group from an "underperform" rating to a "buy" rating and upped their price target for the stock from $35.00 to $43.00 in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Radian Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Zacks Research lowered shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Weiss Ratings upgraded shares of Radian Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday. Finally, Royal Bank Of Canada started coverage on shares of Radian Group in a report on Friday, May 22nd. They issued an "outperform" rating and a $47.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.17.

Radian Group Trading Up 0.9%

Shares of RDN opened at $37.20 on Friday. Radian Group Inc. has a 12-month low of $31.50 and a 12-month high of $41.05. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 0.89 and a beta of 0.72. The stock's 50-day moving average price is $37.21 and its 200 day moving average price is $35.38.

Radian Group (NYSE:RDN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The firm had revenue of $574.96 million during the quarter, compared to analyst estimates of $556.55 million. During the same period last year, the company earned $1.01 EPS. The company's revenue was up 92.3% on a year-over-year basis. As a group, research analysts predict that Radian Group Inc. will post 4.93 earnings per share for the current year.

Radian Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, August 24th. Radian Group's dividend payout ratio is presently 26.22%.

Insider Transactions at Radian Group

In other news, Director Noel Joseph Spiegel sold 4,834 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $36.19, for a total value of $174,942.46. Following the completion of the transaction, the director owned 20,008 shares in the company, valued at approximately $724,089.52. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael S. Weinbach acquired 120,487 shares of Radian Group stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $33.89 per share, with a total value of $4,083,304.43. Following the completion of the acquisition, the chief executive officer directly owned 120,487 shares in the company, valued at $4,083,304.43. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 15,517 shares of company stock valued at $557,610 in the last ninety days. 2.03% of the stock is owned by company insiders.

About Radian Group

Radian Group Inc NYSE: RDN is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian's core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.

Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.

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