Radian Group Inc. (NYSE:RDN) Shares Bought by Trexquant Investment LP
Trexquant Investment LP raised its position in Radian Group Inc. (NYSE:RDN) by 49.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,878 shares of the insurance provider’s stock after buying an additional 14,587 shares during the period. Trexquant Investment LP’s holdings in Radian Group were worth $717,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Pioneer Investment Management Inc. boosted its position in Radian Group by 19.2% in the second quarter. Pioneer Investment Management Inc. now owns 2,337,048 shares of the insurance provider’s stock worth $38,211,000 after buying an additional 375,832 shares in the last quarter. TD Asset Management Inc. boosted its position in Radian Group by 10.2% in the second quarter. TD Asset Management Inc. now owns 70,100 shares of the insurance provider’s stock worth $1,146,000 after buying an additional 6,500 shares in the last quarter. Palisade Capital Management LLC NJ acquired a new position in Radian Group during the second quarter worth $292,000. Sei Investments Co. boosted its position in Radian Group by 15.0% in the second quarter. Sei Investments Co. now owns 406,858 shares of the insurance provider’s stock worth $6,653,000 after buying an additional 53,130 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its position in Radian Group by 3.6% in the second quarter. Rothschild Asset Management Inc. now owns 2,286,739 shares of the insurance provider’s stock worth $37,388,000 after buying an additional 79,098 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.
Radian Group Inc. (NYSE:RDN) opened at 17.24 on Friday. The company’s 50-day moving average price is $17.16 and its 200 day moving average price is $17.69. Radian Group Inc. has a 1-year low of $12.83 and a 1-year high of $19.87. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 19.75 and a beta of 1.61.
Radian Group (NYSE:RDN) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.08. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The firm had revenue of $302.91 million during the quarter, compared to the consensus estimate of $299.07 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Radian Group Inc. will post $1.72 earnings per share for the current fiscal year.
Radian Group announced that its board has initiated a share buyback plan on Wednesday, August 9th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 21st will be given a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date is Thursday, August 17th. Radian Group’s dividend payout ratio (DPR) is presently 1.18%.
A number of equities analysts have recently weighed in on the company. Barclays PLC reiterated an “overweight” rating and set a $24.00 price target (down from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. Zacks Investment Research cut Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub cut Radian Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 7th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 price target on shares of Radian Group in a report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.75.
About Radian Group
Radian Group Inc is an insurance 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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