VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in Radian Group Inc. (NYSE:RDN – Free Report) by 17.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,002,772 shares of the insurance provider’s stock after selling 206,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.76% of Radian Group worth $30,695,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Total Wealth Planning & Management Inc. purchased a new stake in shares of Radian Group in the third quarter valued at about $292,000. Signaturefd LLC increased its stake in shares of Radian Group by 166.8% during the 3rd quarter. Signaturefd LLC now owns 5,774 shares of the insurance provider’s stock worth $177,000 after purchasing an additional 3,610 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Radian Group during the 3rd quarter worth approximately $36,000. Abel Hall LLC raised its position in shares of Radian Group by 15.7% during the 3rd quarter. Abel Hall LLC now owns 6,922 shares of the insurance provider’s stock worth $212,000 after purchasing an additional 939 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its position in shares of Radian Group by 10.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 14,065 shares of the insurance provider’s stock worth $431,000 after purchasing an additional 1,344 shares during the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on the company. Zacks Research upgraded Radian Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Wall Street Zen downgraded shares of Radian Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. BTIG Research started coverage on shares of Radian Group in a report on Tuesday, September 22nd. They issued a “buy” rating and a $48.00 target price on the stock. Barclays raised their price target on shares of Radian Group from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, October 5th. Finally, Weiss Ratings downgraded shares of Radian Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.14.
Read Our Latest Stock Report on RDN
Insider Buying and Selling at Radian Group
In other news, EVP Meghan Bartholomew sold 7,812 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $35.94, for a total value of $280,763.28. Following the completion of the sale, the executive vice president owned 39,203 shares in the company, valued at approximately $1,408,955.82. This trade represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.03% of the stock is owned by insiders.
Radian Group Stock Down 0.4%
Shares of NYSE:RDN opened at $35.53 on Friday. Radian Group Inc. has a 1 year low of $30.53 and a 1 year high of $41.05. The stock has a 50-day simple moving average of $34.83 and a 200-day simple moving average of $35.18. The stock has a market capitalization of $4.70 billion, a P/E ratio of 9.13, a PEG ratio of 0.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.60 and a current ratio of 0.60.
Radian Group (NYSE:RDN – Get Free Report) last issued its earnings results on Thursday, August 6th. The insurance provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Radian Group had a net margin of 32.60% and a return on equity of 13.65%. The business had revenue of $574.96 million during the quarter, compared to analysts’ expectations of $556.55 million. During the same period in the prior year, the business posted $1.01 EPS. The business’s revenue was up 92.3% on a year-over-year basis. Equities analysts forecast that Radian Group Inc. will post 4.85 earnings per share for the current year.
Radian Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were paid a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 24th. Radian Group’s payout ratio is currently 26.22%.
About Radian Group
Radian Group Inc (NYSE:RDN) is a financial services company that provides mortgage insurance and related services to the residential real estate industry. Through its mortgage insurance subsidiaries, including Radian Guaranty Inc, the company helps lenders manage credit risk on residential mortgages, particularly loans made to borrowers with smaller down payments. Its insurance can also help borrowers obtain home financing without contributing a traditional 20% down payment.
Radian’s mortgage insurance business serves mortgage lenders, banks, credit unions and other housing finance participants primarily in the United States.
See Also
- Five stocks we like better than Radian Group
- Starbucks Says Its Turnaround Is DoneāThe Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Want to see what other hedge funds are holding RDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Radian Group Inc. (NYSE:RDN – Free Report).
Receive News & Ratings for Radian Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radian Group and related companies with MarketBeat.com's FREE daily email newsletter.
