The Manufacturers Life Insurance Company Invests $2.65 Million in Radian Group Inc. $RDN

Key Points

• The Manufacturers Life Insurance Company purchased 70,216 Radian Group shares worth approximately $2.65 million, giving it a 0.05% stake. Institutional investors collectively own 95.33% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds. Radian has an average “Moderate Buy” rating and an average price target of $42.17.
• Radian reported quarterly revenue of $574.96 million, up 92.3% year over year, although earnings per share of $1.14 missed estimates. The company also declared a quarterly dividend of $0.255, representing a 2.8% annualized yield.

The Manufacturers Life Insurance Company bought a new position in Radian Group Inc. (NYSE:RDN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 70,216 shares of the insurance provider's stock, valued at approximately $2,645,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Radian Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Radian Group by 178.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 742 shares of the insurance provider's stock valued at $27,000 after buying an additional 476 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Radian Group by 191.3% during the first quarter. Geneos Wealth Management Inc. now owns 871 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 572 shares during the last quarter. Fifth Third Bancorp grew its position in Radian Group by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 907 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 360 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Radian Group during the third quarter worth approximately $34,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Radian Group in the 2nd quarter worth approximately $37,000. Institutional investors own 95.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RDN. Royal Bank Of Canada began coverage on shares of Radian Group in a research note on Friday, May 22nd. They issued an "outperform" rating and a $47.00 price objective for the company. Wall Street Zen downgraded shares of Radian Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Barclays cut their price target on shares of Radian Group from $39.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday, August 10th. Weiss Ratings raised Radian Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on Radian Group from $46.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.17.

Radian Group Trading Up 1.9%

NYSE:RDN opened at $36.49 on Thursday. The firm has a market capitalization of $4.83 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.87 and a beta of 0.70. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $37.65 and a 200 day moving average of $35.70. Radian Group Inc. has a 52 week low of $31.50 and a 52 week high of $41.05.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.20). The firm had revenue of $574.96 million during the quarter, compared to the consensus estimate of $556.55 million. Radian Group had a return on equity of 13.65% and a net margin of 32.60%.Radian Group's revenue was up 92.3% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. On average, research analysts predict that Radian Group Inc. will post 4.86 earnings per share for the current year.

Radian Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. Radian Group's dividend payout ratio (DPR) is presently 26.22%.

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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