Westport Asset Management Inc. Purchases New Stake in Radian Group Inc. $RDN

Westport Asset Management Inc. purchased a new position in shares of Radian Group Inc. (NYSE:RDNFree Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 130,371 shares of the insurance provider’s stock, valued at approximately $4,911,000. Radian Group accounts for about 2.0% of Westport Asset Management Inc.’s portfolio, making the stock its 16th largest holding. Westport Asset Management Inc. owned 0.10% of Radian Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Radian Group in the second quarter valued at approximately $728,072,000. Charles Schwab Investment Management Inc. increased its stake in Radian Group by 1.1% during 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 acquiring an additional 63,437 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 230,912 shares during the period. Donald Smith & CO. Inc. raised its position 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 purchasing an additional 916,003 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Radian Group by 16.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,188,624 shares of the insurance provider’s stock valued at $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.

Insiders Place Their Bets

In other news, Director Margaret Anne Leyden sold 2,070 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.59, for a total value of $71,601.30. Following the transaction, the director owned 6,864 shares in the company, valued at approximately $237,425.76. This represents a 23.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Noel Joseph Spiegel sold 4,834 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $36.19, for a total value of $174,942.46. Following the sale, the director owned 20,008 shares of the company’s stock, valued at approximately $724,089.52. The trade was a 19.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 15,517 shares of company stock valued at $557,610. 2.03% of the stock is owned by insiders.

Radian Group Stock Down 1.2%

Shares of NYSE:RDN opened at $36.40 on Thursday. Radian Group Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $41.05. The firm’s 50 day moving average price is $37.36 and its 200 day moving average price is $35.48. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 0.89 and a beta of 0.72.

Radian Group (NYSE:RDNGet Free Report) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). The firm had revenue of $574.96 million during the quarter, compared to analyst estimates of $556.55 million. Radian Group had a net margin of 32.60% and a return on equity of 13.65%. Radian Group’s revenue for the quarter was up 92.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. As a group, equities research analysts predict that Radian Group Inc. will post 4.86 earnings per share for the current fiscal year.

Radian Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 24th. Radian Group’s dividend payout ratio is currently 26.22%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RDN shares. Keefe, Bruyette & Woods lowered their price objective on shares of Radian Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Bank of America raised Radian Group from an “underperform” rating to a “buy” rating and boosted their target price for the company from $35.00 to $43.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada started coverage on Radian Group in a research note on Friday, May 22nd. They set an “outperform” rating and a $47.00 price target on the stock. Weiss Ratings upgraded Radian Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Finally, Barclays lowered their price target on Radian Group from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.17.

Read Our Latest Stock Analysis on Radian Group

Radian Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Radian Group (NYSE:RDN)

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