Voya Investment Management LLC Cuts Position in Radian Group Inc. $RDN

Key Points

• Voya Investment Management LLC reduced its position in Radian Group Inc. by 19.2%, resulting in ownership of 59,353 shares valued at approximately $1.96 million at the end of Q1.
• Jane Street Group LLC significantly increased its holdings in Radian Group by 11,446.4%, now owning over 1.3 million shares valued at around $43.34 million.
• Radian Group reported earnings of $1.01 per share for the last quarter, exceeding analysts' expectations, but experienced a 0.9% decline in revenue year-over-year.

Voya Investment Management LLC lessened its stake in Radian Group Inc. (NYSE:RDN - Free Report) by 19.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,353 shares of the insurance provider's stock after selling 14,092 shares during the quarter. Voya Investment Management LLC's holdings in Radian Group were worth $1,963,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RDN. Jane Street Group LLC increased its holdings in shares of Radian Group by 11,446.4% in the 1st quarter. Jane Street Group LLC now owns 1,310,517 shares of the insurance provider's stock valued at $43,339,000 after purchasing an additional 1,299,167 shares in the last quarter. Nuveen LLC purchased a new position in Radian Group during the 1st quarter valued at about $40,749,000. Millennium Management LLC purchased a new position in Radian Group during the 1st quarter valued at about $27,282,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Radian Group by 109.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 901,260 shares of the insurance provider's stock valued at $28,588,000 after acquiring an additional 470,158 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Radian Group by 161.9% during the 1st quarter. Deutsche Bank AG now owns 553,737 shares of the insurance provider's stock valued at $18,312,000 after acquiring an additional 342,330 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company's stock.

Insiders Place Their Bets

In other Radian Group news, EVP Edward J. Hoffman sold 10,000 shares of Radian Group stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $37.00, for a total transaction of $370,000.00. Following the transaction, the executive vice president directly owned 153,708 shares of the company's stock, valued at $5,687,196. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.16% of the stock is currently owned by company insiders.

Radian Group Trading Down 0.2%

Shares of RDN stock opened at $37.15 on Monday. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 9.36 and a beta of 0.75. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.54. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $38.84. The firm's 50 day moving average price is $34.47 and its two-hundred day moving average price is $33.74.

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

Radian Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 25th. Radian Group's payout ratio is 25.69%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 target price for the company. in a report on Monday, July 7th. Barclays raised their target price on shares of Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, UBS Group restated a "neutral" rating and set a $38.00 target price (up from $36.00) on shares of Radian Group in a report on Monday, July 14th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $37.00.

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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