Radian Group Inc. (RDN) Shares Sold by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio decreased its position in shares of Radian Group Inc. (NYSE:RDN) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,120 shares of the insurance provider’s stock after selling 216 shares during the period. Public Employees Retirement System of Ohio’s holdings in Radian Group were worth $509,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Capital World Investors raised its holdings in shares of Radian Group by 42.7% in the 2nd quarter. Capital World Investors now owns 4,930,000 shares of the insurance provider’s stock valued at $80,606,000 after purchasing an additional 1,475,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Radian Group in the 2nd quarter valued at $17,167,000. Northern Trust Corp raised its holdings in shares of Radian Group by 24.6% in the 2nd quarter. Northern Trust Corp now owns 5,305,329 shares of the insurance provider’s stock valued at $86,742,000 after purchasing an additional 1,048,954 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Radian Group by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 18,116,304 shares of the insurance provider’s stock valued at $296,201,000 after purchasing an additional 859,950 shares in the last quarter. Finally, Calamos Advisors LLC raised its holdings in shares of Radian Group by 62.5% in the 2nd quarter. Calamos Advisors LLC now owns 2,054,000 shares of the insurance provider’s stock valued at $33,583,000 after purchasing an additional 790,132 shares in the last quarter. Hedge funds and other institutional investors own 91.34% of the company’s stock.
A number of equities research analysts have recently weighed in on RDN shares. Zacks Investment Research upgraded shares of Radian Group from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Tuesday, October 10th. ValuEngine upgraded shares of Radian Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th. Deutsche Bank AG lowered shares of Radian Group from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a report on Friday, November 3rd. Compass Point restated a “neutral” rating and issued a $21.25 price objective on shares of Radian Group in a report on Saturday, October 14th. Finally, BTIG Research restated a “buy” rating and issued a $22.00 price objective on shares of Radian Group in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Radian Group currently has a consensus rating of “Buy” and an average target price of $22.59.
In other Radian Group news, 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 cost of $16.78 per share, with a total value of $251,700.00. Following the transaction, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $251,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Catherine Mary Jackson sold 17,130 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $17.22, for a total transaction of $294,978.60. Following the transaction, 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. Company insiders own 1.06% of the company’s stock.
Shares of Radian Group Inc. (RDN) opened at $19.67 on Monday. Radian Group Inc. has a one year low of $13.62 and a one year high of $21.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $4,240.17, a price-to-earnings ratio of 11.44, a P/E/G ratio of 2.24 and a beta of 1.59.
Radian Group (NYSE:RDN) last announced its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. The firm had revenue of $312.05 million for the quarter, compared to analyst estimates of $321.10 million. During the same period last year, the business earned $0.41 EPS. Radian Group’s revenue for the quarter was down 2.8% compared to the same quarter last year. analysts predict that Radian Group Inc. will post 1.76 earnings per share for the current fiscal year.
Radian Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 9th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be given a dividend of $0.002 per share. This represents a $0.01 annualized dividend and a yield of 0.04%. The ex-dividend date is Friday, November 24th. Radian Group’s payout ratio is currently 1.28%.
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.
Want to see what other hedge funds are holding RDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Radian Group Inc. (NYSE:RDN).
Receive News & Ratings for Radian Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radian Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.