Icon Advisers Inc. Co. Holds Holdings in Radian Group Inc. (RDN)
Icon Advisers Inc. Co. continued to hold its position in shares of Radian Group Inc. (NYSE:RDN) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,300 shares of the insurance provider’s stock at the end of the 2nd quarter. Icon Advisers Inc. Co.’s holdings in Radian Group were worth $479,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Radian Group during the first quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Radian Group by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,781 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 803 shares in the last quarter. Skba Capital Management LLC bought a new stake in shares of Radian Group during the second quarter valued at approximately $170,000. Alpine Woods Capital Investors LLC increased its holdings in shares of Radian Group by 9.5% during the second quarter. Alpine Woods Capital Investors LLC now owns 11,510 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Radian Group during the second quarter valued at approximately $231,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.
Shares of Radian Group Inc. (NYSE RDN) opened at 17.19 on Tuesday. The company has a market cap of $3.70 billion, a P/E ratio of 19.74 and a beta of 1.58. The company’s 50-day moving average price is $17.18 and its 200 day moving average price is $17.34. Radian Group Inc. has a one year low of $12.96 and a one year high of $19.87.
Radian Group (NYSE:RDN) last announced its quarterly earnings data 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. The business had revenue of $302.91 million during the quarter, compared to analysts’ expectations of $299.07 million. Radian Group had a return on equity of 12.81% and a net margin of 16.26%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts anticipate that Radian Group Inc. will post $1.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 21st were paid 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 of this dividend was Thursday, August 17th. Radian Group’s payout ratio is 1.18%.
Radian Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 9th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the insurance provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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Several research firms have recently commented on RDN. Barclays PLC restated an “overweight” rating and set a $24.00 price objective (down previously from $25.00) on shares of Radian Group in a report on Wednesday, August 2nd. BidaskClub upgraded Radian Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded Radian Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price objective on shares of Radian Group in a report on Tuesday, May 30th. Finally, ValuEngine upgraded Radian Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Radian Group has a consensus rating of “Buy” and a consensus target price of $20.75.
In related news, CEO Richard G. Thornberry acquired 5,000 shares of the stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $16.54 per share, for a total transaction of $82,700.00. Following the completion of the purchase, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $330,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard G. Thornberry acquired 15,000 shares of the stock in a transaction on Friday, August 18th. The shares were bought at an average price of $16.78 per share, with a total value of $251,700.00. Following the purchase, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at approximately $251,700. The disclosure for this purchase can be found here. 1.83% of the stock is currently owned by insiders.
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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