VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 1,209,272 Radian Group Inc. $RDN

Key Points

• Virginia Retirement Systems acquired 1,209,272 shares of Radian Group, valued at approximately $45.6 million, representing about 0.91% of the company. Institutional investors collectively own 95.33% of Radian’s stock.
• Radian reported quarterly EPS of $1.14, below the $1.34 analyst consensus, while revenue reached $574.96 million and increased 92.3% year over year.
• Radian declared a quarterly dividend of $0.255 per share, or $1.02 annualized, yielding approximately 2.8%. Analysts maintain a “Moderate Buy” consensus with an average price target of $42.17.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Radian Group Inc. (NYSE:RDN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,209,272 shares of the insurance provider's stock, valued at approximately $45,553,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.91% of Radian Group as of its most recent filing with the Securities and Exchange Commission.

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

Radian Group Stock Down 0.2%

Shares of RDN stock opened at $36.59 on Monday. Radian Group Inc. has a one year low of $31.50 and a one year high of $41.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a fifty day moving average price of $37.63 and a 200 day moving average price of $35.75. The stock has a market cap of $4.84 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.70.

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

Radian Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.8%. Radian Group's dividend payout ratio is presently 26.22%.

Analysts Set New Price Targets

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

Radian Group Company Profile

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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