O Shaughnessy Asset Management LLC raised its position in shares of Radian Group Inc. (NYSE:RDN – Free Report) by 124.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,775 shares of the insurance provider’s stock after purchasing an additional 69,137 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.08% of Radian Group worth $2,758,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of Radian Group by 14.8% in the 1st quarter. Raymond James & Associates now owns 18,972 shares of the insurance provider’s stock worth $421,000 after purchasing an additional 2,445 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Radian Group by 2.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 56,712 shares of the insurance provider’s stock valued at $1,260,000 after buying an additional 1,548 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Radian Group by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,488,800 shares of the insurance provider’s stock valued at $33,067,000 after acquiring an additional 6,479 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Radian Group by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 94,871 shares of the insurance provider’s stock worth $2,107,000 after acquiring an additional 34,432 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Radian Group by 854.0% during the first quarter. Great West Life Assurance Co. Can now owns 96,124 shares of the insurance provider’s stock worth $2,271,000 after purchasing an additional 86,048 shares during the period. 96.17% of the stock is owned by institutional investors.
Radian Group Price Performance
Shares of NYSE:RDN opened at $26.62 on Friday. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 6.49, a P/E/G ratio of 1.53 and a beta of 1.08. Radian Group Inc. has a 1 year low of $17.83 and a 1 year high of $28.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $26.61 and a 200 day simple moving average of $24.64.
Radian Group (NYSE:RDN – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.15. The company had revenue of $278.85 million for the quarter, compared to analyst estimates of $289.10 million. Radian Group had a return on equity of 17.30% and a net margin of 54.83%. As a group, sell-side analysts predict that Radian Group Inc. will post 3.47 earnings per share for the current fiscal year.
Radian Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Friday, August 18th. Radian Group’s dividend payout ratio (DPR) is presently 21.95%.
Analysts Set New Price Targets
RDN has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Radian Group from $26.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. StockNews.com initiated coverage on shares of Radian Group in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut shares of Radian Group from an “outperform” rating to a “market perform” rating and set a $27.50 price objective on the stock. in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $25.67.
Read Our Latest Research Report on RDN
Insiders Place Their Bets
In other Radian Group news, Director Gregory Serio sold 3,800 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $26.82, for a total transaction of $101,916.00. Following the transaction, the director now directly owns 8,221 shares in the company, valued at $220,487.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.58% of the company’s stock.
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.
Further Reading
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