Nordea Investment Management AB Raises Stake in Radian Group Inc. (RDN)
Nordea Investment Management AB boosted its stake in Radian Group Inc. (NYSE:RDN) by 73.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 316,400 shares of the company’s stock after buying an additional 133,700 shares during the period. Nordea Investment Management AB’s holdings in Radian Group were worth $3,297,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in shares of Radian Group during the second quarter valued at approximately $126,000. Genesee Valley Trust Co. boosted its position in shares of 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 during the period. Strs Ohio boosted its position in shares of Radian Group by 22.8% in the second quarter. Strs Ohio now owns 18,300 shares of the company’s stock worth $190,000 after buying an additional 3,400 shares during the last quarter. Virginia Retirement System bought a new position in shares of Radian Group during the first quarter worth about $284,000. Finally, Quadrature Capital Ltd bought a new position in shares of Radian Group during the first quarter worth about $285,000. 93.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Radian Group Inc. (NYSE:RDN) traded up 0.48% during mid-day trading on Wednesday, reaching $14.54. The company had a trading volume of 1,869,138 shares. The firm’s 50-day moving average price is $13.65 and its 200 day moving average price is $12.44. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 10.90 and a beta of 2.01. Radian Group Inc. has a 52-week low of $9.29 and a 52-week high of $16.16.
Radian Group (NYSE:RDN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Radian Group had a return on equity of 12.64% and a net margin of 25.42%. The firm had revenue of $330.20 million for the quarter, compared to analyst estimates of $224.68 million. During the same period in the prior year, the firm posted $0.40 EPS. Equities analysts expect that Radian Group Inc. will post $1.54 EPS for the current year.
A number of brokerages have issued reports on RDN. BTIG Research reissued a “buy” rating and set a $22.00 price objective on shares of Radian Group in a report on Wednesday, July 6th. Bank of America Corp. began coverage on Radian Group in a report on Monday. They set a “buy” rating and a $18.00 price objective for the company. FBR & Co lifted their price objective on Radian Group from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Zacks Investment Research cut Radian Group from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Finally, TheStreet raised Radian Group from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $16.85.
In related news, EVP Derek Brummer bought 16,000 shares of Radian Group stock in a transaction dated Wednesday, August 10th. The shares were bought at an average cost of $12.87 per share, with a total value of $205,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.83% of the stock is owned by company insiders.
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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