Two Sigma Investments LP purchased a new position in shares of Radian Group Inc. (NYSE:RDN - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,903 shares of the insurance provider's stock, valued at approximately $409,000.
Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Radian Group by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 722,402 shares of the insurance provider's stock valued at $22,915,000 after buying an additional 13,202 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Radian Group by 5.3% in the 4th quarter. First Eagle Investment Management LLC now owns 510,873 shares of the insurance provider's stock valued at $16,205,000 after buying an additional 25,500 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Radian Group in the 4th quarter valued at about $4,872,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Radian Group by 37.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 68,829 shares of the insurance provider's stock valued at $2,183,000 after buying an additional 18,829 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Radian Group in the 4th quarter valued at about $478,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.
Radian Group Stock Down 0.5%
NYSE RDN traded down $0.16 during trading hours on Friday, hitting $34.24. The company's stock had a trading volume of 1,039,500 shares, compared to its average volume of 1,237,569. Radian Group Inc. has a 52 week low of $29.32 and a 52 week high of $37.86. The company has a market capitalization of $4.60 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. The company has a current ratio of 2.87, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50. The company's 50-day simple moving average is $33.06 and its two-hundred day simple moving average is $32.86.
Radian Group (NYSE:RDN - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $326.99 million. During the same quarter last year, the firm earned $1.03 EPS. The firm's revenue for the quarter was down .4% compared to the same quarter last year. Research analysts anticipate that Radian Group Inc. will post 3.79 EPS for the current fiscal year.
Radian Group declared that its board has approved a stock buyback program on Wednesday, May 21st that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 16.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Radian Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.02 annualized dividend and a dividend yield of 2.98%. Radian Group's dividend payout ratio is currently 25.95%.
Insiders Place Their Bets
In other Radian Group news, EVP Eric Ray sold 30,000 shares of Radian Group stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $33.30, for a total transaction of $999,000.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward J. Hoffman sold 10,000 shares of Radian Group stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the transaction, the executive vice president now directly owns 191,586 shares in the company, valued at approximately $6,513,924. This represents a 4.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,378 shares of company stock valued at $2,224,414 in the last 90 days. 2.01% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have recently commented on RDN. UBS Group raised their target price on Radian Group from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $38.00 target price (up from $37.00) on shares of Radian Group in a research note on Friday, May 2nd. Finally, Compass Point downgraded Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.83.
Check Out Our Latest Analysis on Radian Group
Radian Group Profile
(
Free Report)
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.
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