Victory Capital Management Inc. Has $1.57 Million Position in Radian Group Inc. (NYSE:RDN)

Key Points

• Victory Capital Management Inc. reduced its stake in Radian Group Inc. by 44%, holding 47,392 shares valued at $1.57 million.
• Radian Group has a consensus rating of "Hold", with a target price set at $37.50 following recent analyst evaluations.
• The company announced a quarterly dividend of $0.255 per share, with a yield of 3.01%, and authorized a stock buyback program worth $750 million.

Victory Capital Management Inc. lessened its position in Radian Group Inc. (NYSE:RDN - Free Report) by 44.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,392 shares of the insurance provider's stock after selling 37,224 shares during the period. Victory Capital Management Inc.'s holdings in Radian Group were worth $1,567,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Covestor Ltd grew its stake in Radian Group by 35.6% during the fourth quarter. Covestor Ltd now owns 1,351 shares of the insurance provider's stock worth $43,000 after buying an additional 355 shares during the period. GAMMA Investing LLC raised its holdings in Radian Group by 13.9% in the first 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 in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Radian Group by 9.8% during the fourth quarter. Quantinno Capital Management LP now owns 8,629 shares of the insurance provider's stock worth $274,000 after purchasing an additional 768 shares during the period. HighTower Advisors LLC raised its holdings in shares of Radian Group by 11.4% during the fourth quarter. HighTower Advisors LLC now owns 8,824 shares of the insurance provider's stock worth $280,000 after purchasing an additional 900 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Radian Group by 27.8% during the first quarter. Cerity Partners LLC now owns 11,324 shares of the insurance provider's stock worth $374,000 after acquiring an additional 2,465 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company's stock.

Radian Group Stock Performance

RDN stock traded up $0.31 during midday trading on Friday, hitting $32.92. The stock had a trading volume of 1,492,222 shares, compared to its average volume of 1,151,231. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 8.29 and a beta of 0.74. Radian Group Inc. has a 52 week low of $29.32 and a 52 week high of $36.99. The stock has a 50-day simple moving average of $34.46 and a 200 day simple moving average of $33.31. The company has a current ratio of 0.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.41.

Radian Group (NYSE:RDN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. The firm had revenue of $318.00 million during the quarter, compared to analysts' expectations of $321.97 million. Radian Group had a return on equity of 13.25% and a net margin of 45.62%. Radian Group's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. As a group, equities research analysts anticipate that Radian Group Inc. will post 3.79 earnings per share for the current year.

Radian Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.1%. Radian Group's dividend payout ratio (DPR) is presently 25.69%.

Radian Group announced that its Board of Directors has approved a share 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 repurchase up to 16.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RDN. Compass Point lowered shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Barclays increased their price target on shares of Radian Group from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. UBS Group restated a "neutral" rating and issued a $38.00 price objective (up previously from $36.00) on shares of Radian Group in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods downgraded Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price target on the stock. in a report on Monday, July 7th.

Insider Activity at Radian Group

In other Radian Group news, Director Lisa Mumford sold 2,500 shares of Radian Group stock in a transaction on Friday, June 6th. The stock was sold at an average price of $33.45, for a total transaction of $83,625.00. Following the completion of the transaction, the director directly owned 22,329 shares of the company's stock, valued at approximately $746,905.05. This trade represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard Bernard Culang sold 8,773 shares of Radian Group stock in a transaction on Friday, June 6th. The shares were sold at an average price of $33.37, for a total value of $292,755.01. Following the transaction, the director directly owned 8,050 shares of the company's stock, valued at approximately $268,628.50. The trade was a 52.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,378 shares of company stock valued at $2,944,414. Insiders own 2.01% of the company's stock.

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.