M&T Bank Corp purchased a new stake in Radian Group Inc. (NYSE:RDN – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,676 shares of the insurance provider’s stock, valued at approximately $236,000.
Several other institutional investors and hedge funds also recently made changes to their positions in RDN. Goldman Sachs Group Inc. grew its stake in Radian Group by 202.0% during the second quarter. Goldman Sachs Group Inc. now owns 3,295,712 shares of the insurance provider’s stock worth $64,760,000 after purchasing an additional 2,204,335 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Radian Group by 61.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,994,265 shares of the insurance provider’s stock worth $88,713,000 after purchasing an additional 1,523,376 shares during the period. Vanguard Group Inc. grew its stake in Radian Group by 8.5% during the first quarter. Vanguard Group Inc. now owns 18,357,109 shares of the insurance provider’s stock worth $407,712,000 after purchasing an additional 1,443,144 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in Radian Group by 49.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,119,242 shares of the insurance provider’s stock worth $78,554,000 after purchasing an additional 1,357,430 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Radian Group by 9,190.1% in the first quarter. Principal Financial Group Inc. now owns 949,446 shares of the insurance provider’s stock valued at $20,983,000 after acquiring an additional 939,226 shares during the period. Institutional investors and hedge funds own 96.17% of the company’s stock.
Radian Group Stock Down 0.3 %
RDN stock opened at $26.37 on Thursday. Radian Group Inc. has a twelve month low of $17.83 and a twelve month high of $28.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $26.58 and its 200-day moving average is $24.63. The firm has a market capitalization of $4.15 billion, a PE ratio of 6.43, a P/E/G ratio of 1.57 and a beta of 1.08.
Radian Group (NYSE:RDN – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. Radian Group had a return on equity of 17.30% and a net margin of 54.83%. The company had revenue of $278.85 million for the quarter, compared to analyst estimates of $289.10 million. Sell-side analysts expect that Radian Group Inc. will post 3.47 EPS for the current fiscal year.
Radian Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.90 dividend on an annualized basis and a yield of 3.41%. Radian Group’s dividend payout ratio (DPR) is currently 21.95%.
Insider Buying and Selling
In related news, Director Gregory Serio sold 3,800 shares of Radian Group stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $26.82, for a total transaction of $101,916.00. Following the sale, the director now directly owns 8,221 shares in the company, valued at $220,487.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.58% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on RDN shares. Keefe, Bruyette & Woods cut Radian Group from an “outperform” rating to a “market perform” rating and set a $27.50 price objective for the company. in a research note on Monday, June 12th. StockNews.com started coverage on Radian Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada raised their price objective on Radian Group from $26.00 to $29.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.67.
Get Our Latest Analysis on RDN
Radian Group Company Profile
Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. The company operates through Mortgage and Homegenius segments. The Mortgage segment offers credit-related insurance coverage primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management, contract underwriting solutions.
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