Radian Group Inc. (RDN) Holdings Decreased by Capital Fund Management S.A.
Capital Fund Management S.A. decreased its stake in shares of Radian Group Inc. (NYSE:RDN) by 21.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,989 shares of the insurance provider’s stock after selling 39,221 shares during the quarter. Capital Fund Management S.A. owned about 0.07% of Radian Group worth $2,387,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. FMR LLC increased its position in shares of Radian Group by 0.3% during the 1st quarter. FMR LLC now owns 19,336,037 shares of the insurance provider’s stock worth $347,275,000 after purchasing an additional 59,116 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Radian Group by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,256,354 shares of the insurance provider’s stock worth $309,923,000 after purchasing an additional 876,181 shares during the last quarter. BlackRock Inc. increased its position in shares of Radian Group by 24,173.9% during the 1st quarter. BlackRock Inc. now owns 14,125,455 shares of the insurance provider’s stock worth $253,692,000 after purchasing an additional 14,067,263 shares during the last quarter. LSV Asset Management increased its position in shares of Radian Group by 0.6% during the 2nd quarter. LSV Asset Management now owns 10,409,782 shares of the insurance provider’s stock worth $170,199,000 after purchasing an additional 58,304 shares during the last quarter. Finally, State Street Corp increased its position in shares of Radian Group by 7.3% during the 1st quarter. State Street Corp now owns 7,682,263 shares of the insurance provider’s stock worth $137,976,000 after purchasing an additional 524,837 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Richard G. Thornberry purchased 5,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average cost of $16.54 per share, with a total value of $82,700.00. Following the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $330,800. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Catherine Mary Jackson sold 17,130 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $17.22, for a total value of $294,978.60. Following the completion of the sale, the senior vice president now directly owns 80,720 shares in the company, valued at $1,389,998.40. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
Shares of Radian Group Inc. (NYSE RDN) opened at 17.11 on Thursday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 19.64 and a beta of 1.58. The company’s 50 day moving average price is $17.20 and its 200-day moving average price is $17.38. Radian Group Inc. has a 12 month low of $12.96 and a 12 month high of $19.87.
Radian Group (NYSE:RDN) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $299.07 million. During the same period in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Radian Group Inc. will post $1.72 earnings per share for the current year.
Radian Group announced that its Board of Directors has approved a share repurchase program on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 21st were given a $0.0025 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.06%. Radian Group’s dividend payout ratio is currently 1.18%.
Several research analysts have weighed in on the company. ValuEngine lowered Radian Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. Barclays PLC reaffirmed an “overweight” rating and set a $24.00 price target (down previously from $25.00) on shares of Radian Group in a research report on Wednesday, August 2nd. Zacks Investment Research raised Radian Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. BidaskClub raised Radian Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price target on shares of Radian Group in a research report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Radian Group presently has a consensus rating of “Buy” and a consensus target price of $20.75.
Radian Group Company Profile
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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