BlackRock Inc. reduced its position in shares of Radian Group Inc. (NYSE:RDN – Get Rating) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,571,873 shares of the insurance provider’s stock after selling 1,159,969 shares during the period. BlackRock Inc. owned about 8.64% of Radian Group worth $261,800,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in RDN. Lazard Asset Management LLC lifted its position in shares of Radian Group by 1,399.0% in the 3rd quarter. Lazard Asset Management LLC now owns 1,454 shares of the insurance provider’s stock worth $28,000 after buying an additional 1,357 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Radian Group in the third quarter worth about $35,000. Wipfli Financial Advisors LLC acquired a new position in Radian Group in the third quarter valued at approximately $58,000. Captrust Financial Advisors grew its holdings in shares of Radian Group by 35.3% during the second quarter. Captrust Financial Advisors now owns 4,012 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Radian Group during the 3rd quarter worth approximately $108,000. 94.37% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have weighed in on RDN. BTIG Research lowered Radian Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 6th. Barclays cut shares of Radian Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $24.00 to $21.00 in a research report on Friday, January 6th. Roth Capital reaffirmed a “buy” rating on shares of Radian Group in a report on Thursday, February 9th. Royal Bank of Canada increased their price objective on Radian Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, February 10th. Finally, Bank of America raised Radian Group from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, December 15th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.71.
Radian Group Trading Down 3.3 %
Shares of Radian Group stock opened at $21.18 on Monday. The business has a fifty day simple moving average of $21.27 and a 200-day simple moving average of $20.31. Radian Group Inc. has a fifty-two week low of $17.83 and a fifty-two week high of $23.91. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 4.85, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.40.
Radian Group (NYSE:RDN – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The insurance provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.18. Radian Group had a net margin of 62.39% and a return on equity of 22.58%. The company had revenue of $314.72 million during the quarter, compared to analyst estimates of $312.63 million. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities analysts forecast that Radian Group Inc. will post 3.08 EPS for the current fiscal year.
Radian Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Monday, February 27th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Friday, February 24th. This is an increase from Radian Group’s previous quarterly dividend of $0.20. Radian Group’s dividend payout ratio is 20.60%.
Insider Transactions at Radian Group
In other news, insider Derek Brummer sold 25,000 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $21.75, for a total transaction of $543,750.00. Following the sale, the insider now directly owns 183,990 shares of the company’s stock, valued at $4,001,782.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Derek Brummer sold 25,000 shares of Radian Group stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $21.75, for a total value of $543,750.00. Following the transaction, the insider now directly owns 183,990 shares of the company’s stock, valued at $4,001,782.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward J. Hoffman sold 9,990 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $21.61, for a total transaction of $215,883.90. Following the sale, the executive vice president now owns 118,534 shares in the company, valued at approximately $2,561,519.74. The disclosure for this sale can be found here. Insiders sold a total of 60,120 shares of company stock valued at $1,320,888 in the last three months. 1.42% of the stock is currently owned by corporate insiders.
Radian Group Profile
Radian Group, Inc is a holding company, which engages in the provision of mortgage insurance, risk management products, and real estate services to financial institutions. It operates through the Mortgage and Real Estate segments. The Mortgage segment offers credit-related insurance coverage, as well as other credit risk management solutions to mortgage lending institutions and mortgage credit investors.
