Quantbot Technologies LP Has $224,000 Holdings in Radian Group Inc (RDN)
Quantbot Technologies LP decreased its position in shares of Radian Group Inc (NYSE:RDN) by 82.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,988 shares of the insurance provider’s stock after selling 55,813 shares during the quarter. Quantbot Technologies LP’s holdings in Radian Group were worth $224,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in Radian Group by 116.7% during the 2nd quarter. SG Americas Securities LLC now owns 66,097 shares of the insurance provider’s stock worth $1,081,000 after purchasing an additional 35,595 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Radian Group by 27.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,342,225 shares of the insurance provider’s stock worth $25,086,000 after purchasing an additional 292,200 shares during the last quarter. Prudential Financial Inc. raised its holdings in Radian Group by 57.0% during the 3rd quarter. Prudential Financial Inc. now owns 2,085,847 shares of the insurance provider’s stock worth $38,984,000 after purchasing an additional 757,490 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Radian Group by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,257,091 shares of the insurance provider’s stock worth $20,554,000 after purchasing an additional 7,650 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Radian Group by 3.7% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 257,696 shares of the insurance provider’s stock worth $4,213,000 after purchasing an additional 9,177 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.
RDN has been the subject of several analyst reports. ValuEngine lowered shares of Radian Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research lowered shares of Radian Group from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Compass Point upgraded shares of Radian Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.75 to $24.75 in a report on Friday, October 27th. B. Riley reiterated a “buy” rating on shares of Radian Group in a research note on Monday, November 6th. Finally, Wells Fargo & Company initiated coverage on shares of Radian Group in a research note on Tuesday. They issued a “market perform” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $22.53.
Radian Group Inc (RDN) traded up $0.93 during trading hours on Friday, hitting $21.42. 2,590,081 shares of the stock traded hands, compared to its average volume of 1,667,669. The company has a market cap of $4,540.00, a price-to-earnings ratio of 12.19, a P/E/G ratio of 2.38 and a beta of 1.59. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.34. Radian Group Inc has a 12 month low of $14.81 and a 12 month high of $21.59.
Radian Group (NYSE:RDN) last released its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $312.05 million during the quarter, compared to analyst estimates of $321.10 million. Radian Group had a net margin of 14.88% and a return on equity of 12.99%. Radian Group’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. equities research analysts anticipate that Radian Group Inc will post 1.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 27th will be paid a $0.002 dividend. The ex-dividend date is Friday, November 24th. This represents a $0.01 annualized dividend and a dividend yield of 0.04%. Radian Group’s dividend payout ratio is currently 1.27%.
Radian Group announced that its board has authorized a stock repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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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