VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 1,935,415 Radian Group Inc. $RDN

Key Points

• Virginia Retirement Systems has acquired 1,935,415 shares of Radian Group Inc., valued at approximately $69.7 million, representing 1.44% of the company.
• Radian Group recently announced a quarterly dividend of $0.255 per share, equating to an annual yield of 3.1%.
• The stock has received mixed ratings from analysts, with Zacks upgrading it to a "strong-buy" while UBS cut its target price from $43 to $40, indicating a "neutral" rating.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Radian Group Inc. (NYSE:RDN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,935,415 shares of the insurance provider's stock, valued at approximately $69,714,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 1.44% of Radian Group at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in Radian Group by 191.3% in the 1st 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 in the last quarter. Covestor Ltd raised its holdings in shares of Radian Group by 42.6% in the first quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 576 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of Radian Group in the first quarter worth $88,000. Jones Financial Companies Lllp boosted its holdings in Radian Group by 14.8% during 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 last quarter. Finally, US Bancorp DE grew its position in Radian Group by 22.7% in the first quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock valued at $131,000 after purchasing an additional 735 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Edward J. Hoffman sold 10,000 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $37.00, for a total value of $370,000.00. Following the completion of the sale, the executive vice president directly owned 153,708 shares in the company, valued at $5,687,196. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.01% of the company's stock.

Radian Group Stock Performance

NYSE RDN opened at $33.06 on Friday. The firm has a 50-day moving average of $34.98 and a 200-day moving average of $34.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market cap of $4.48 billion, a PE ratio of 8.33 and a beta of 0.73. Radian Group Inc. has a 52-week low of $29.32 and a 52-week high of $38.84.

Radian Group (NYSE:RDN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.08. The business had revenue of $318.00 million for the quarter, compared to analyst estimates of $321.97 million. Radian Group had a net margin of 45.62% and a return on equity of 13.25%. Radian Group's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. On average, sell-side analysts anticipate that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were paid a dividend of $0.255 per share. The ex-dividend date was Monday, August 25th. 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 25.69%.

Analyst Ratings Changes

RDN has been the subject of a number of analyst reports. Zacks Research upgraded Radian Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 22nd. Barclays boosted their target price on shares of Radian Group from $35.00 to $37.00 and gave the stock a "cautious" rating in a report on Monday, October 6th. UBS Group cut their price target on shares of Radian Group from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday. Weiss Ratings restated a "buy (a-)" rating on shares of Radian Group in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods cut shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price on the stock. in a report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Radian Group 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.

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