Cibc World Market Inc. bought a new position in shares of Radian Group Inc. (NYSE:RDN – Free Report) in the 2nd quarter, Holdings Channel reports. The fund bought 49,203 shares of the insurance provider’s stock, valued at approximately $1,853,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Radian Group in the 2nd quarter valued at about $728,072,000. Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $214,481,000 after purchasing an additional 63,437 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 230,912 shares during the last quarter. Donald Smith & CO. Inc. bought a new position in shares of Radian Group during the second quarter worth approximately $163,104,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Radian Group by 16.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider’s stock worth $78,769,000 after purchasing an additional 315,575 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.
Analysts Set New Price Targets
RDN has been the topic of a number of research reports. Royal Bank Of Canada assumed coverage on Radian Group in a report on Friday, May 22nd. They issued an “outperform” rating and a $47.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings raised shares of Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Finally, Barclays decreased their target price on shares of Radian Group from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Radian Group currently has an average rating of “Moderate Buy” and a consensus target price of $42.17.
Radian Group Price Performance
Shares of NYSE RDN opened at $36.51 on Friday. The business has a fifty day moving average price of $37.60 and a two-hundred day moving average price of $35.62. The stock has a market capitalization of $4.83 billion, a PE ratio of 9.39, a P/E/G ratio of 0.89 and a beta of 0.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05.
Radian Group (NYSE:RDN – Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). Radian Group had a return on equity of 13.65% and a net margin of 32.60%.The company had revenue of $574.96 million for the quarter, compared to analyst estimates of $556.55 million. During the same period last year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was up 92.3% compared to the same quarter last year. As a group, equities analysts predict that Radian Group Inc. will post 4.86 earnings per share for the current fiscal year.
Radian Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.02 annualized dividend and a yield of 2.8%. Radian Group’s dividend payout ratio is currently 26.22%.
Insiders Place Their Bets
In other news, CEO Michael S. Weinbach acquired 49,513 shares of Radian Group stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of $34.04 per share, for a total transaction of $1,685,422.52. Following the completion of the purchase, the chief executive officer directly owned 170,000 shares of the company’s stock, valued at approximately $5,786,800. This represents a 41.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.03% of the stock is owned by corporate insiders.
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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