XTX Topco Ltd Invests $2.33 Million in Radian Group Inc. (NYSE:RDN)

Key Points

• XTX Topco Ltd has made a new investment of approximately $2.33 million in Radian Group Inc., acquiring 70,568 shares during the first quarter.
• Radian Group recently reported earnings per share (EPS) of $0.99 for the quarter, exceeding analysts' expectations of $0.95.
• The company's Board of Directors initiated a $750 million share buyback program, indicating a belief that the stock is undervalued.

XTX Topco Ltd bought a new stake in Radian Group Inc. (NYSE:RDN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 70,568 shares of the insurance provider's stock, valued at approximately $2,334,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDN. HighTower Advisors LLC grew its stake 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 in the last quarter. LPL Financial LLC grew its stake in shares of Radian Group by 177.6% during the fourth quarter. LPL Financial LLC now owns 27,320 shares of the insurance provider's stock worth $867,000 after purchasing an additional 17,477 shares in the last quarter. Norges Bank acquired a new position in shares of Radian Group during the fourth quarter worth $73,693,000. New Age Alpha Advisors LLC acquired a new position in shares of Radian Group during the fourth quarter worth $478,000. Finally, Pictet Asset Management Holding SA grew its stake in shares of Radian Group by 27.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 23,745 shares of the insurance provider's stock worth $753,000 after purchasing an additional 5,063 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company's stock.

Insider Buying and Selling at Radian Group

In other Radian Group news, Director Howard Bernard Culang sold 8,773 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $33.37, for a total transaction of $292,755.01. Following the sale, the director directly owned 8,050 shares in the company, valued at approximately $268,628.50. The trade was a 52.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric Ray sold 30,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $33.30, for a total transaction of $999,000.00. Following the sale, the executive vice president owned 13,957 shares in the company, valued at $464,768.10. This trade represents a 68.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,378 shares of company stock worth $2,944,414. 2.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on RDN shares. Compass Point downgraded shares of Radian Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. 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 research note on Monday, July 14th. Keefe, Bruyette & Woods downgraded shares of Radian Group from a "moderate buy" rating to a "hold" rating and set a $38.00 price objective for the company. in a research note on Monday, July 7th. Finally, Barclays upped their price objective on shares of Radian Group from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th.

Radian Group Trading Up 1.0%

NYSE:RDN traded up $0.31 during trading hours on Friday, reaching $32.92. 1,492,222 shares of the company were exchanged, compared to its average volume of 1,151,231. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.44 and a quick ratio of 3.44. The firm has a market cap 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.

Radian Group (NYSE:RDN - Get Free Report) last released 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 business had revenue of $318.00 million during 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%. The business's revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. As a group, analysts predict that Radian Group Inc. will post 3.79 EPS for the current year.

Radian Group announced that its board has approved a share repurchase program on Wednesday, May 21st that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 16.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Radian Group Announces Dividend

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

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.