Quinn Opportunity Partners LLC bought a new position in Radian Group Inc (NYSE:RDN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,700 shares of the insurance provider’s stock, valued at approximately $512,000.
A number of other institutional investors have also recently made changes to their positions in RDN. Bayview Asset Management LLC bought a new position in Radian Group in the fourth quarter worth about $44,533,000. Norges Bank bought a new position in Radian Group in the fourth quarter worth about $40,582,000. Bank of America Corp DE raised its holdings in Radian Group by 68.9% in the fourth quarter. Bank of America Corp DE now owns 2,003,925 shares of the insurance provider’s stock worth $32,785,000 after purchasing an additional 817,362 shares in the last quarter. Callodine Capital Management LP bought a new position in Radian Group in the fourth quarter worth about $9,080,000. Finally, BlackRock Inc. raised its holdings in Radian Group by 3.4% in the fourth quarter. BlackRock Inc. now owns 15,678,772 shares of the insurance provider’s stock worth $256,506,000 after purchasing an additional 515,334 shares in the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.
A number of equities analysts have commented on the stock. Bank of America reiterated a “buy” rating and issued a $27.00 target price (up from $23.00) on shares of Radian Group in a report on Wednesday, May 1st. MKM Partners boosted their price target on Radian Group to $30.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Compass Point restated a “buy” rating and set a $30.00 price target (up previously from $26.50) on shares of Radian Group in a research note on Thursday, May 2nd. Zacks Investment Research lowered Radian Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, ValuEngine upgraded Radian Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.71.
Shares of RDN stock opened at $22.70 on Friday. Radian Group Inc has a fifty-two week low of $14.77 and a fifty-two week high of $24.62. The stock has a market cap of $4.72 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.87 and a current ratio of 1.87.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. Radian Group had a return on equity of 17.82% and a net margin of 49.25%. The business had revenue of $363.63 million for the quarter, compared to analyst estimates of $342.44 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 24.7% on a year-over-year basis. Sell-side analysts predict that Radian Group Inc will post 2.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 27th will be paid a dividend of $0.0025 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. Radian Group’s payout ratio is 0.37%.
Radian Group Profile
Radian Group Inc, through its subsidiaries, engages in the mortgage and real estate services business in the United States. It operates in two segments, Mortgage Insurance and Services. The Mortgage Insurance segment offers credit-related insurance coverage, primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
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