Quantitative Systematic Strategies LLC Reduces Stake in Radian Group Inc. (RDN)
Quantitative Systematic Strategies LLC cut its stake in shares of Radian Group Inc. (NYSE:RDN) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 60,667 shares of the company’s stock after selling 485 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Radian Group were worth $600,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Fox Run Management L.L.C. purchased a new position in Radian Group during the second quarter valued at about $126,000. Genesee Valley Trust Co. boosted its position in Radian Group by 2.3% in the second quarter. Genesee Valley Trust Co. now owns 12,216 shares of the company’s stock valued at $127,000 after buying an additional 274 shares in the last quarter. Strs Ohio boosted its position in Radian Group by 22.8% in the second quarter. Strs Ohio now owns 18,300 shares of the company’s stock valued at $190,000 after buying an additional 3,400 shares in the last quarter. Virginia Retirement System purchased a new position in Radian Group during the first quarter valued at about $284,000. Finally, Quadrature Capital Ltd purchased a new position in Radian Group during the first quarter valued at about $285,000. Institutional investors and hedge funds own 93.38% of the company’s stock.
Shares of Radian Group Inc. (NYSE:RDN) traded up 0.73% during midday trading on Friday, reaching $13.74. The company had a trading volume of 1,873,021 shares. Radian Group Inc. has a 12-month low of $9.29 and a 12-month high of $16.95. The stock’s 50 day moving average is $13.62 and its 200-day moving average is $12.40. The stock has a market capitalization of $2.95 billion, a PE ratio of 10.30 and a beta of 2.01.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The business had revenue of $330.20 million for the quarter, compared to analyst estimates of $224.68 million. Radian Group had a return on equity of 12.64% and a net margin of 25.42%. During the same quarter in the previous year, the company posted $0.40 EPS. On average, equities research analysts predict that Radian Group Inc. will post $1.54 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. BTIG Research reissued a “buy” rating and issued a $22.00 target price on shares of Radian Group in a research note on Wednesday, July 6th. FBR & Co increased their target price on Radian Group from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Zacks Investment Research lowered Radian Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, TheStreet raised Radian Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $16.75.
In related news, EVP Derek Brummer purchased 16,000 shares of Radian Group stock in a transaction on Wednesday, August 10th. The shares were purchased at an average price of $12.87 per share, for a total transaction of $205,920.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.83% of the company’s stock.
About Radian Group
Radian Group Inc is a holding company that provides mortgage insurance, and products and services to the real estate and mortgage finance industries. The Company operates in two segments: Mortgage Insurance and Services. The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance to mortgage lending institutions.
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