Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Radian Group Inc. $RDN

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Radian Group Inc. by 2.3%, owning approximately 887,874 shares worth $32.67 million as of the second quarter.
• Radian Group's recent quarterly earnings reported an EPS of $1.01, surpassing estimates, while revenue slightly declined by 0.9% year-over-year to $318 million.
• Analysts have assigned an average rating of "Hold" to Radian Group, with a target price ranging from $34 to $38 per share.

Wealth Enhancement Advisory Services LLC boosted its position in shares of Radian Group Inc. (NYSE:RDN - Free Report) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 887,874 shares of the insurance provider's stock after purchasing an additional 20,049 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.66% of Radian Group worth $32,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings in shares of 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 during the period. Covestor Ltd increased its holdings in shares of Radian Group by 42.6% in the 1st quarter. Covestor Ltd now owns 1,927 shares of the insurance provider's stock valued at $64,000 after acquiring an additional 576 shares during the period. Virtus Advisers LLC purchased a new position in shares of Radian Group in the 1st quarter valued at $88,000. Jones Financial Companies Lllp increased its holdings in shares of Radian Group by 14.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,764 shares of the insurance provider's stock valued at $91,000 after acquiring an additional 357 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Radian Group by 22.7% in the 1st quarter. US Bancorp DE now owns 3,972 shares of the insurance provider's stock valued at $131,000 after acquiring an additional 735 shares during the period. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Edward J. Hoffman sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 153,708 shares of the company's stock, valued at approximately $5,687,196. This represents a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.16% of the stock is currently owned by company insiders.

Radian Group Stock Performance

RDN traded down $0.16 on Tuesday, reaching $36.32. 145,423 shares of the stock were exchanged, compared to its average volume of 1,405,412. The company's 50-day moving average price is $34.52 and its 200 day moving average price is $33.77. Radian Group Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $38.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $4.92 billion, a PE ratio of 9.15 and a beta of 0.75.

Radian Group (NYSE:RDN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.08. The company 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%.The firm's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, sell-side analysts forecast that Radian Group Inc. will post 3.79 EPS for the current fiscal year.

Radian Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, August 25th. Radian Group's payout ratio is 25.69%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RDN. UBS Group reiterated a "neutral" rating and issued a $38.00 price target (up from $36.00) on shares of Radian Group in a report on Monday, July 14th. Barclays lifted their price target on Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. 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. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.