Edgestream Partners L.P. reduced its position in Radian Group Inc. (NYSE:RDN – Free Report) by 89.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 41,995 shares of the insurance provider’s stock after selling 340,069 shares during the quarter. Edgestream Partners L.P.’s holdings in Radian Group were worth $1,389,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Radian Group by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,959,463 shares of the insurance provider’s stock worth $214,481,000 after buying an additional 63,437 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Radian Group by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,948,335 shares of the insurance provider’s stock valued at $196,773,000 after acquiring an additional 230,912 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in Radian Group by 43.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,012,255 shares of the insurance provider’s stock valued at $108,411,000 after acquiring an additional 916,003 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Radian Group by 16.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider’s stock worth $78,769,000 after acquiring an additional 315,575 shares in the last quarter. Finally, Norges Bank bought a new stake in Radian Group in the fourth quarter worth approximately $77,364,000. 95.33% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Radian Group news, CEO Michael S. Weinbach purchased 49,513 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $34.04 per share, with a total value of $1,685,422.52. Following the transaction, the chief executive officer directly owned 170,000 shares in the company, valued at approximately $5,786,800. This represents a 41.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Howard Bernard Culang sold 3,612 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $36.00, for a total value of $130,032.00. Following the transaction, the chairman owned 8,050 shares of the company’s stock, valued at approximately $289,800. This trade represents a 30.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,516 shares of company stock worth $1,127,576 over the last 90 days. Company insiders own 2.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Report on Radian Group
Radian Group Stock Up 0.8%
Radian Group stock opened at $39.31 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The firm has a fifty day moving average price of $36.67 and a two-hundred day moving average price of $35.14. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 0.98 and a beta of 0.72.
Radian Group (NYSE:RDN – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. The company had revenue of $466.34 million for the quarter, compared to the consensus estimate of $377.83 million. Radian Group had a return on equity of 13.57% and a net margin of 40.50%.The firm’s revenue was up 46.6% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. As a group, analysts forecast that Radian Group Inc. will post 5.17 earnings per share for the current year.
Radian Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.255 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $1.02 annualized dividend and a yield of 2.6%. Radian Group’s dividend payout ratio is presently 25.12%.
Radian Group Company Profile
Radian Group Inc (NYSE:RDN) is a leading provider of private mortgage insurance and related risk management solutions in the United States. Through its primary subsidiary, Radian Guaranty Inc, the company underwrites borrower-paid and lender-paid mortgage insurance that protects lenders and investors from potential losses arising from borrower defaults. Radian’s core business focuses on supporting residential mortgage originations and servicing by offering capital-efficient credit protection and credit risk transfer strategies.
Beyond mortgage insurance, Radian offers an array of real estate transaction services under its Radian Title division.
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